Cannabis e-commerce startup Jane Technologies raises $100M after stellar growth

CANNANNEW REPORT

Don’t call Jane Technologies the Amazon of weed. Instead, think of Jane Technologies as the Shopify of weed, and it’s an important distinction. While other startups attempt to build a destination marketplace like Amazon, Jane Technologies is trying something more powerful. The company is building the backends for dispensaries that are quickly taking their cannabis offerings online, and the company accounts for 20% of all legal cannabis sales in the United States. To Jane Technologies, the future of cannabis isn’t a single destination like Amazon; the future of cannabis is the neighborhood dispensary that sells weed online, and Jane wants to power their online store. Today, the company is announcing a $100 million Series C financing round, bringing the total amount raised since its founding in 2015 to $130 million. Honor Ventures lead the round, and founding Managing Partner Jeffrey Housenbold joined Jane Technologies’ board of directors. Jane Technologies expects to use the additional capital to grow its digital footprint and its teams across multiple areas of operations. The company intends to build new features and expand its product offering for large and small cannabis operations Online cannabis retail sales are quickly becoming the norm as consumers’ expectations change, and Jane offers a turn-key solution to build a robust online presence quickly. Socrates Rosenfeld, Jane Technologies co-founder and CEO, is quick to point out Jane’s current positioning is a long time in the making. In an interview with TechCrunch, he says that this was a bet the company made in 2015 that the future of e-commerce is not a marketplace, but the complete digitization of all commerces. “I think we are really seeing the next chapter of what the future of e-commerce will look like,” Rosenfeld said, “not just in the cannabis industry, perhaps across the world with various retail verticals like…

Excerpt only …
READ MORE BELOW
Source : Cannabis e-commerce startup Jane Technologies raises 0M after stellar growth

reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.