April 20 (4/20) is a kind of American national holiday in the pot-smoking world , but no one seems to know exactly why. Is it Bob Dylan’s “Rainy Day Women #12 & 35” (12 x 35 = 420)? Is it an old police code (a 420) for marijuana possession? Or is it for some other wild reason, like Adolf Hitler’s birthday? Whatever the reason, to Eaze Solutions, Inc. (Eaze) this week seemed a good time to release the results of its recent cannabis survey. Eaze is a four year-old San Francisco-based technology platform serving licensed cannabis dispensaries and brands. The company’s technology provides help to cannabis businesses with compliance, inventory management and delivery. Eaze says it helps consumers too by connecting them either online or via mobile. According to Eaze’s social impact director, Jennifer Lujan, the company’s mission is to “improve people’s lives by helping them understand the benefits of cannabis and by providing them with safe, convenient access to legal cannabis products.”
The Great California Cannabis Experiment Lurches Forward
To coincide with this "holiday," a technology company with San Francisco roots held an open house this week at its new Venice office, just steps from the sign. Eaze, a platform that connects consumers to dispensaries for home deliveries of cannabis, invited the city's cannabis czar, a dispensary owner and a delivery driver to talk about the newly legalized recreational market.
High Tech, High Finance and High Times for U.S. Pot Industry
Prominent VC firms that have warmed to cannabis include Founders Fund, started by PayPal co-founder Peter Thiel, which has invested in Privateer Holdings. Prominent Silicon Valley VCs 500 Startups, DCM Ventures, along with New York-based Great Oaks Venture Capital, have all backed Eaze, a medical marijuana delivery app that allows patients to order cannabis on demand.
Eaze is moving into recreational marijuana with $27M in new funding
The cannabis industry has lit up in the last year, including weed delivery startup Eaze, which just raised $27 million in Series B financing and claims a 300 percent year-over-year increase in gross sales. Eaze has gone hard on marketing spend, using aggressive growth tactics and burning through the $24.5 million it had previously raised in VC cash. New CEO of the company Jim Patterson, who took over the role in December 2017 explains his approach as just part of the Silicon Valley cycle to get ahead, “We are a tech startup…we’re investing in growth,” he told TechCrunch when asked about the high burn rate. “We’re investing the money now in what’s clearly going to be a very big market.”
CNBC Video - "Today is like Christmas for the cannabis industry which makes Eaze, Santa Claus"
"Uber for Marijuana" Startup Eaze Raises $13M, Becomes Most Funded Cannabis Startup in US
Weed on-demand startup Eaze inhales $13M in funding to grow into new markets
The “Uber for weed” startup Eaze has grown quite a bit over the last year and it intends to expand even more. To get it there, Eaze has closed on $13 million in Series B funding from Fresh VC, Doll Capital Management (DCM) and Tusk Ventures. Eaze launched in July of 2014 to help medical marijuana patients order cannabis on demand. It soon expanded to allow people to get a medical weed card in the state of California over the phone in under 10 minutes.