Green Bits, a Portland, Oregon and San Jose, CA-based provider of a retail management platform for the cannabis industry, completed a $2.2m growth financing.
Backers included Casa Verde Capital and other Silicon Valley entrepreneurs.
The company will use the proceeds to accelerate sales, customer support and product development as it expands into new geographic markets, including California, Maryland and Nevada.
Founded in 2014 and led by Ben Curren, CEO, Green Bits provides a retail management platform for the legal cannabis industry. The platform, which has just passed $1.5 billion in annual sales processed through its point-of-sale (POS) system, ensures compliant retail operations with real-time, automated updates to state traceability systems and built in controls that adhere to local laws. In addition, it enables business owners to grow revenue and streamline store operations with patient and customer loyalty programs, a wide array of menu offerings, and receiving and inventory tools.