Marijuana tech company MJ Freeway nets $3M in financing

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A day after winning Pennsylvania’s medical marijuana seed-to-sale tracking contract, MJ Freeway said Friday it has received $3 million in Series B extension financing.

The financing – which comes from existing investors Tao Capital Partners, based in San Francisco, and venture capitalist Roger McNamee – brings to $11 million the amount of money Denver-based MJ Freeway has raised in its Series B round, according to a news release.

The money will fund market expansion, the company said.

On Thursday,  the Pennsylvania Department of Health announced a five-year, $10 million deal in which MJ Freeway will supply seed-to-sale software to monitor the state’s pending MMJ program.

The back-to-back announcements are a sign that MJ Freeway has regained its footing after a systems crash in January affected hundreds of cannabis retailers. The company has attributed the incident to a hack.