Nabis, a San Francisco, California-based licensed cannabis wholesale marketplace platform, raised $23m in Series B funding.
Backers included FJ Labs, Artemis Growth Partners, Silverleaf Venture Partners, Liquid 2 Ventures and Stanley Tang (Co-Founder, DoorDash). Investors in the $5m Series A raise, which closed less than a year ago, included Y Combinator and Babel Ventures.
The company intends to use the funds to grow its licensed wholesaling platform, and scale its value-added services, which include Nabis Capital and Nabis Analytics.
Founded in 2017 by software engineers Vince C. Ning and Jun S. Lee, Nabis is a licensed wholesaling platform supporting over 100 brands and supplying the entire network of California dispensaries with top-tier products. The company offers clients fulfillment, warehousing, payment processing, financing, data analytics, and sales and marketing services to enable brands and retailers to innovate, launch, and scale. It works directly with its partners to streamline the regulated cannabis wholesaling process by leveraging actionable, sales data and insights to help brands and retailers scale strategically.
The company represents a portfolio of over 100 top-tier brands distributing more than $350m worth of cannabis products per year.