Cannabis Software Company WebJoint Raises $1.5 Million in Series A Round
WebJoint raises a $1.5 million dollar series A round lead by RedTape Ventures.
LOS ANGELES, November 13, 2017-- WebJoint, a Los Angeles-based cannabis software company, has announced the closing of a $1.5 million Series A funding round led by RedTape Ventures. Since 2014, WebJoint has grown to nearly 200 retail clients and is currently the only cannabis compliance software with an integrated website builder & eCommerce platform. Dispensaries and delivery services use WebJoint to manage their business for compliance, but are also instantly populated with a .com website which can be managed from the back-office, similar to CRM's like WordPress. Come 2018, California is headed toward legalization of recreational cannabis and with that will come several laws and restrictions with local businesses. WebJoint has already pre-positioned in the state and is poised to be a leading California provider and the platform will keep businesses compliant with all city and state laws moving forward.
"We're excited to continue WebJoint's rapid growth throughout the array of legal cannabis markets. This funding round will allow us to focus on expanding throughout California, as well as execute action plans geared towards the rest of the U.S. and Canada market," said Christopher Dell'Olio, WebJoint CEO & co-founder. "With our current client-base in California, we are confident that we have successfully pre-positioned and will continue to become a leading provider in our home state and expand from there." Michael Tanzer of RedTape Ventures stated, "The WebJoint team has been able to gain more traction than most of their VC backed competitors. We're thrilled to invest in WebJoint & couldn't think of a better partner for seedless.co, one of our portfolio companies."
WebJoint, was recently featured on "The Marijuana Show", a hit show on Amazon Prime. The finale was recorded in front of a live studio audience in Taos, NM and season 3 is set to release in March 2018. "WebJoint reminds me of Zapier but for the cannabis industry. They glue all your integrations together to bring you one ultimate experience," said Wendy Robbins, The Marijuana Show producer/director.
WebJoint's comprehensive retail software is geared toward cannabis retailers. However, WebJoint is still the only company who takes a serious approach to develop enterprise software for delivery services. "Delivery is an important piece of cannabis retail. Nobody has a real focus on cannabis delivery software the way WebJoint does. Our previous platform was extremely slow and bottlenecked, and WebJoint had all the pieces. Not to mention a management team that is willing to go the extra mile to make sure that happens," said Thomas Haney, co-founder of Advanced Genetics Collective, a long-time WebJoint client.
The WebJoint platform also eliminates a common industry issue called "service hopping". This happens when cannabis businesses utilize an array of third- party services to manage their operation, because they can't get the outcome they need with their current software provider. Third party website/eCommerce platforms have also been known to shut down cannabis- related websites. "We had six delivery locations running on Shopify. But they couldn't integrate with GPS tracking, became extremely pricey, and we realized they don't allow cannabis businesses to begin with. Once we switched to WebJoint, our custom design was quickly converted and you couldn't tell the difference. We now have eight locations and WebJoint is able to set us up in minutes," said Shawn Hollie, co-owner of Grandmas Goodies, a delivery service based in San Francisco, California.
WebJoint's retail software has been in production since late 2014, however, the new cultivation software is set to launch in Q1 of 2018. After being in development for the last two years, the cultivation platform has many competitive advantages that are poised to make an impact in the sector of cannabis cultivation tech. "We took our time focusing our efforts on the retail market. Throughout our three-year process, we have researched and developed a robust cultivation platform that will take the industry by storm. In addition, there are tons of benefits we can provide by having both growers and retailers on our platform," said Hilart Abrahamian, WebJoint COO & co-founder.
The company growth has been organic yet rapid. Dell'Olio and Abrahamian took the company to a momentum-gaining & self-sustaining state, allowing WebJoint to grow exponentially without taking on unnecessary financing at the time. "We started this company from our bedrooms in 2014. We've have been able to compete with the best of the best and create something substantial," said Abrahamian. "However, the time has come and we're getting ready for some heavy momentum. With the closing of this funding round, we expect to fully execute our vision with proper resources to get the job done."
WebJoint is currently looking for retailers, cultivators, distributors and manufacturers that are interested in an innovative cannabis software. If you're in a state with pending regulations, applications or licensing please contact us today for a demo and free trial of the software.
WebJoint is a leading provider of cannabis software technology. Currently providing solutions for nearly 200 cannabis retailers across the U.S. & Canada, WebJoint allows dispensaries and delivery services manage inventory, customers, sales and eCommerce orders in one place. WebJoint was founded in 2014 and is based in Los Angeles, California. More information can be found at www.webjoint.com.
Phone: 800-870-7976 - ext. 2
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