Cannabis marketing platform gets $1.6M in added funding

(Note: This story was updated March 15.)

Baker, a Denver-based software provider that links cannabis dispensaries with their customers, announced it has secured $1.6 million since an August seed round, bringing its total funding to $3.5 million.

Poseidon Asset Management, a marijuana-focused investment management firm in San Francisco, led the funding round. Other funders were chiefly existing investors, including serial entrepreneur Michael Lazerow as well as Base Ventures and XG Ventures, two venture capital firms based in California.

 Baker said it would use the money to fund its continued growth.

Baker’s marketing automation platform is designed to help dispensary owners serve customers – from online ordering to in-store check-in, loyalty, promotions and personalized messaging. Additionally, Baker creates interactive shopping menus that dispensaries can embed into their websites.

The Denver company also announced it has expanded operations to dispensaries in Massachusetts, Connecticut and Hawaii, making for a total footprint of 10 states and Canada.

The company said it serves more than 250 dispensaries. Last month, Baker said it drove more than $3.1 million in revenue for its clients.

Leave a Reply

Your email address will not be published. Required fields are marked *