Mainstem, a Seattle WA-based integrated purchasing platform with an embedded marketplace for the supply chain needs of the cannabis industry, raised $5M in Series C funding.
Merida Capital Holdings made the investment, which brought total funding raised to date to $11m.
The company intends to use the funds to continue to expand operations and its business reach.
Led by Alen Nguyen, CEO, Mainstem provides a B2B marketplace and integrated supply purchasing platform for the cannabis industry. Its integrated SaaS solution, Purchase Pro™, launched in June to give operators visibility and control over their procurement needs across the industry.
Customers include 1,000 vertically integrated operators in 26 U.S. states.