MedMen operates a retail‑oriented cannabis business built around branded dispensaries and prime retail locations. The company says it is refocusing on its core retail business and plans to strengthen its balance sheet, accelerate a path to profitability and expand the MedMen brand. Over the last year MedMen has pursued cash infusions, asset and stock sales, and aggressive cost cuts including layoffs of more than 40% of its staff. For fiscal 2020 (ended June 27) the company reported roughly $247 million net loss attributable to shareholders on $157 million in revenue. At that fiscal year end MedMen had roughly $536 million of debt, including loan facilities and operating and lease liabilities. Despite recent setbacks, some analysts have noted creditor willingness to continue funding as a potential lifeline for the business. MedMen, founded in 2011, is a California startup that sells marijuana through branded retail stores. It owns 11 stores across Los Angeles, New York, and Las Vegas and employs about 700 people. The company emphasizes design and service reportedly comparable to Apple stores and aims to fight stereotypes while introducing modern sales and management practices to the cannabis industry. MedMen offers managerial services to producers and other retailers and has created an investment fund to invest in companies that hold cultivation and retail licenses. The company itself does not hold cultivation and retail licenses across all 18 characteristics noted in the article; its fund-and-partnership model lets it operate in markets with limited licensing (for example, New York). Financially, MedMen had previously raised about $135M from a group of investors and has continued to attract new capital. MedMen is a Los Angeles-based management company serving the legal marijuana industry. Led by CEO Adam Bierman, the firm supports businesses entering the regulated cannabis market by handling licensing, design, and management. It guides clients from completing state applications to managing day-to-day operations of mature businesses. MedMen offers services including business plans, crop security, money management, taxes, hiring, branding, building design, and operations improvement. The company plans to use the new funding to expand its presence in California following passage of AB 243 and 266 (MMRSA) and to build a fully integrated presence. The article does not provide additional operating metrics or broader financial details. MedMen is a Culver City, CA-based cannabis management company that leverages expertise in licensing, design and management to help businesses enter the marijuana marketplace. The company focuses on maximizing brand identity and building legitimate, stable operations for clients. Founded in 2007 by Adam Bierman and Andrew Modlin, MedMen has supported clients that have been awarded 13 medical marijuana licenses in Nevada and has 12 applications pending in Illinois. In November 2014 the company secured $3.75M in financing from several backers, the largest being N Squared Management. MedMen plans to use the funds to launch operations in Nevada and Illinois and to build corporate infrastructure and regional offices in those states.

Total raised

$85M

Funding rounds

6

Latest round

Debt Financing

Latest activity

Nov 2020