Vertical Companies, a Los Angeles, CA-based vertically-integrated multi-state operator and brand and distribution company in the medical and adult-use cannabis and Hemp-based CBD industries, raised $23m in Series A financing.
The round closed at $58m.
Key investors include cannabis industry private equity fund Merida Capital Partners and numerous global business leaders, including significant players in the alcohol distribution and brand space.
The company, which has raised $65m since inception, intends to use the funds to build out its large scale multi-state infrastructure and bring its brands to market.
Led by Smoke Wallin, Vertical has operations in AZ, KY, and CA, combined with strategic partnerships in OH, and additional markets.
Vertical Companies include:
– Vertical MSO™, a multi-state operator in the medical and adult-use cannabis industry with more than 1,906,400 sq. ft. of cultivation expected in 2019 and large-scale extraction and multi-form factor manufacturing operations.
– V Brands Management™, which possesses one the largest brand IP portfolios in the cannabis space.
– Vertical Distribution™, a full-service sales and distribution company with distribution operations in Oakland, Los Angeles, Needles, and adding additional operations to give statewide CA coverage in 2019.
– Vertical Wellness, one of the leading vertically-integrated hemp-based CBD operators and brand companies, with over 2,000 acres of hemp contracted in 2019 and large-scale extraction and multi-form factor manufacturing. As planned, Vertical Wellness, which includes all of Vertical’s hemp-based cannabidiol (“CBD”) assets is being spun off to shareholders of record as of April 1.