BioTrackTHC, a Fort Lauderdale, Florida-based provider of transaction tracking software for the legal cannabis sector, raised $5m in funding.
Greenfield Capital Partners made the investment.
Led by Chief Executive Officer Dr. Steven Siegel, BioTrack provides a business intelligence platform for the cannabis industry including an Enterprise System and a Traceability System. The Enterprise System provides operators with cultivation tracking; management of inventory, patients and point-of-sale; and easy accounting reporting. The Enterprise System is currently used by over 1,200 customers across 18 states and 3 countries.
The Traceability System enables government agencies to track every gram of cannabis throughout the entire production lifecycle, from cultivation, harvest and cure, quality assurance testing, transportation, destruction, and sale. The system provides real-time reporting to assist government agencies with enforcing regulations, collecting taxes and preventing the illegal sale of cannabis.
BioTrackTHC is a division of Bio-Tech Medical Software, Inc., a Florida based company, with offices in Denver, Colorado, and Washington State.