MJ Freeway, a Denver, CO-based provider of business management solutions and consulting services for the cannabis industry, raised $3m in Series B funding.
Backers included existing investors Roger McNamee and Tao Capital Partners.
The company, which has raised $11m in the Series B round, will use this funds for continued market expansion.
Founded in 2010 by Jessica Billingsley, COO, and Amy Poinsett, CEO, MJ Freeway provides cannabis businesses with a software and consulting solution, processing $5B in cannabis sales transactions and serving clients in 23 states, the District of Columbia, Canada, Europe, and Australia.
The company’s tracking software includes patent-pending inventory control and grow management applications to streamline workflow and increase efficiency while its Leaf Data Systems software solution enables governments to track cannabis plants from seed-to-sale and ensure patient, public, and product safety.
MJ Freeway also offers a complete suite of consulting services for cannabis businesses.