MedMen, a Culver City, CA-based cannabis management company, secured $3.75m in financing.
The financing came from several backers, the largest being N Squared Management.
The company will use the funds to launch operations in the states of Nevada and Illinois. The funds will go toward corporate infrastructure and regional MedMen offices in the two states.
Founded in 2007 by entrepreneurs Adam Bierman and Andrew Modlin, MedMen leverages expertise in licensing, design and management to allow businesses to enter the marijuana marketplace, maximize brand identity, and grow a legitimate and stable operation.
Clients have been awarded 13 licenses for medical marijuana businesses in Nevada, and have 12 applications pending state licensure in Illinois.