Participated · Series B · Jul 2021

Nabis is a licensed wholesale marketplace platform that connects cannabis brands with California dispensaries. The company offers fulfillment, warehousing, payment processing, financing, data analytics, and sales and marketing services to help brands and retailers launch and scale. It supports over 100 brands and represents a portfolio that distributes more than $350M worth of cannabis products per year across California's dispensary network. Nabis also operates value-added services including Nabis Capital and Nabis Analytics. Founded in 2017 and based in San Francisco, Nabis plans to use the $23M Series B to grow its licensed wholesaling platform and scale those value-added services. The company previously raised a $5M Series A less than a year earlier with investors including Y Combinator and Babel Ventures. Nabis operates a business-to-business cannabis distribution platform that collects product from manufacturers, stores and tests it in secure warehouses, and delivers to retailers within a 36-hour turnaround. The company also handles payment remittance — including collecting cash at delivery and depositing it through its banking partners — and offers logistics and security features for deliveries. Nabis currently serves about 1,000 dispensaries and 200 delivery services in California, ships roughly $250M of cannabis annually in the state, and handles about 7% of California’s legal cannabis. With additional funding it plans to expand its software offering, beef up financial services to provide capital to operators, and build an online marketplace where manufacturers can sell directly to retailers. Long-term the company aims to capture 25% of California’s legal market and eventually operate nationally, though interstate regulations currently limit expansion. Nabis is an independent, tech-driven Type 11 cannabis distributor founded in 2017 that combines a software front-end with an infrastructural backend to manage distribution logistics. The company provides fulfillment, storage and sales services for wholesale cannabis products for over 40 major brands, including Canndescent, THC Design, Cresco, Beezle, Nasha and Honey Vape. Nabis operates a proprietary, cannabis-compliant software portal that automates aspects of cannabis distribution and plans to invest heavily in its software capabilities. The company intends to use new funds to expand within California and out-of-state and to scale its supply-chain operations. As part of that expansion, Nabis will build a fully renovated 10,000 sq. ft. distribution hub in Los Angeles to streamline operations and support growing Southern California demand.

Participated · Equity · May 2021

Lucid Green’s platform—anchored by LucidSource, LucidID, and Lucid Connect—gives cannabis brands and retailers real-time, item-level visibility that streamlines label compliance, inventory intake, and consumer transparency. Its LucidID codes now appear on more than 160 million products, with 800,000 new IDs generated each day, cementing the company as a market standard across five key U.S. states. The company reports double-digit monthly revenue growth throughout 2025 and a 4.8-star rating for its LucidID consumer app in Apple’s App Store. Adoption of Lucid Connect, the firm’s direct-to-consumer module, more than doubled this year, and consumers have redeemed over 1.25 million BudPoints for 60,000 reward items. Management says these metrics are driving profitability improvements for partners, positioning the business for continued growth into 2026. Based in New York, Lucid Green focuses on supply-chain transparency, inventory efficiency, and consumer trust within the regulated cannabis sector.

Led · Equity · Apr 2021

Headset provides data analytics for the cannabis industry, aggregating information on growers and product manufacturers, retail sales, market trends, top-selling strains, and favored brands across regions. Its datasets cover categories including food, health and beauty products, financial services, and hardware. The company reports more than 300 customers and about 50 employees and projects U.S. cannabis sales of $23.6 billion this year, a 28% increase over 2020. Headset was founded in 2015 by Cy Scott, Brian Wansolich and Scott Vickers, who previously co-founded Leafly, and is based in Seattle. The new $8.6 million funding will help Headset expand its analysis into new legal markets and launch additional services. To date the company has raised about $23 million, according to GeekWire. Headset is a Seattle, WA–based provider of data and analytics for the cannabis industry. The company collects and analyzes consumer transaction information and provides aggregated, standardized and anonymized receipt-level sales data in real time. Headset serves over 1,700 retailers across 30 states and offers tools that help retailers optimize day-to-day operations. Product manufacturers, processors and distributors use Headset’s data to identify trends, stay competitive and collaborate with retail customers. Led by CEO and co-founder Cy Scott, the company plans to use new funding to accelerate expansion into legal markets and pursue opportunities across the growing cannabis industry. The company raised $1.825M in the reported round. Headset operates a market-intelligence platform and analytics tools that aggregate point-of-sale cannabis data for retailers, suppliers and CPG companies, covering sales, inventory, pricing, demographics and basket analytics. The company sells data platforms and analysis tools used to navigate the competitive cannabis landscape and identify opportunities. Headset plans to use new capital to expand into additional U.S. states and provinces where cannabis is legal, including markets it expects to open following upcoming elections. The firm says cannabis consumer spend has risen during the pandemic and its research shows average adult-use market sales are up 25% year-to-date. Headset is a 45-person company founded in 2015; CEO Cy Scott co-founded the business with Brian Wansolich and Scott Vickers. Financially, the company has raised just under $18 million to date and is gearing up for a Series B in 2021. Headset, launched in 2015 by the trio that co-founded Leafly, provides data and analytics to the cannabis industry. The company aggregates retail sales data to deliver real-time market insights and market intelligence to operators and service providers. Headset’s tools help clients monitor sales trends, pricing, emerging sectors, and consumer behavior, and the company says it is tracking billions of dollars of transactions in the U.S. and Canada. The Series A capital will be used to improve products and services, expand offerings into additional U.S. states and international markets, and support partnerships and strategic alliances. Headset also plans to serve new customers in the consumer packaged goods, beverage/alcohol, and financial industries as those sectors increase their interest in cannabis. Headset provides customized business intelligence and up-to-the-minute data for the cannabis industry, including sales trends, emerging sectors, and top products. The company’s product helps clients identify new opportunities, monitor competitors, and tailor product development to reflect real-time consumer behavior. Led by co-founder and CEO Cy Scott, Headset serves cannabis retailers and related businesses with analytics tools. The firm intends to use the new capital to ramp up its suite of data products. No operating metrics were disclosed in the article.

Participated · Seed · Oct 2020

Happy Cabbage Analytics is an integrated cannabis retail analytics company founded in 2019 and based in San Francisco. It offers a text marketing product called Polaris and a predictive inventory assistant named Dawnstar. The company is launching a retail optimization platform — a product suite designed to help cannabis retailers drive more sales and reduce expenses. Leadership is headed by CEO Andrew Watson. Happy Cabbage has been expanding geographically, launching in five new states in 2022. It recently raised an undisclosed strategic financing round to support strategic partnerships, continued product expansion, and further geographic growth. Happy Cabbage Analytics is an integrated data, insights, and marketing platform for cannabis retailers and brands. Launched in 2019 and led by CEO Andrew Watson, the platform algorithmically sorts retailer first-party data to surface customer preferences and behaviors. It helps businesses target lost customers, deliver hyper-targeted marketing campaigns, and optimize sales without the expense of an in-house analytics team. The company's products include analytics capabilities and integrations to clarify data for performance-driven decisions. Happy Cabbage plans to use the new funding to expand the team, invest in partnerships, and develop innovative products and integrations. The company closed a $1.5M seed round to support those plans.

Participated · Seed · Feb 2020

Roshi provides an inventory management software platform for cannabis manufacturers to navigate regulatory and compliance requirements while centralizing fragmented inventory operations. The system delivers real-time analysis of production and operational trends, including product performance, sales, fulfillment and distribution data, and margins. It includes full GMP-tracking to help customers protect consumers and prepare for regulatory needs. The company intends to use recent funding to expand operations and broaden its business reach. Roshi is led by CEO and co-founder Celia Carter.