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.