Dispense, a New York-based digital dispensary management platform raised $2 million in Seed funding.
The round was led by NextView Ventures, Leading cannabis VC’s Poseidon Asset Management and Achari Ventures participated, along with Arrive, a Roc Nation company, and Wayne Chang. NextView co-founder, Lee Hower, joining the Dispense board.
The company intends to use the funds to hire talent, continue developing and enhancing its product, and scale its sales and marketing efforts.
Company: Dispense App
Round: Seed Round
Funding Month: September 2021
Lead Investors: NextView Ventures
Additional Investors: VC’s Poseidon Asset Management, Achari Ventures, Arrive, and Wayne Chang
Company Website: https://www.dispenseapp.com/
Software Category: B2B e-commerce software platform
About the Company: Co-founded by Kyla Moore and Tim Officer, Dispense provides a B2B e-commerce software platform focused on providing cannabis dispensaries with the technology and tools they need to sell products online, manage operations, build direct customer relationships, and scale their businesses. The platform is currently used by dispensaries in five states, including Illinois, Michigan, Ohio, New Jersey, and Massachusetts. Since its beta launch in August 2020. Dispense has processed over 1.5 million orders, with an order value of over $200 million.