Multistate cannabis retailer raises $25 million

Seattle-based marijuana retailer Have a Heart closed a $25 million series A funding round, money the company plans to use to continue its expansion.

According to a news release, the investment came from backers with experience in the cannabis and technology industries.

Here’s what you need to know:

  • The business started in 2011 with five retail stores in Washington state.
  • It now has more than 15 retail locations in Washington, Hawaii, Oregon, California and Iowa.
  • According to the release, the company has 18 applications pending for new stores, including in five additional states, and 20 sites are under negotiation with potential partners in four more states.
  • Last month, the company announced it had unionized the first cannabis store in Washington state.
  • Have A Heart’s 134 employees at the five locations signed a collective bargaining agreement.

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