Jane Technologies, Inc., the cannabis industry’s e-commerce provider, has announced the closing of a $100 million Series C round of funding. The round was led by Honor Ventures with participation from Third Point Ventures, Gotham Green Partners, L2 Ventures, Delta Emerald Ventures and Artemis Growth Partners. Jane previously raised $30 million in funding, bringing the total amount of capital raised to roughly $130 million.
Jane will use the additional funding to expand its digital footprint and grow its team across multiple areas of operations. The capital will also be used to further enhance existing software solutions and introduce new technologies to help bring cannabis enterprises and small operators into the future of digital retail.
“The Jane team has worked diligently over the past few years to ensure we have the right foundation to take this next step in establishing the cannabis industry’s digital infrastructure on a global scale,” said Socrates Rosenfeld, Co-founder and CEO of Jane. “We don’t define success by the amount of capital we’ve raised or the size of our team, but by the value we create for our dispensary partners, brand partners and consumers. This round of funding represents the beginning of the next chapter for Jane as we continue steadfast on our mission of empowering local businesses while providing safe access to a plant that helps so many people around the world.”
“Over the last 25 years I’ve spent working with e-commerce companies, few have become enduring global platforms,” said Jeffrey Housenbold, Founding Managing Partner of Honor Ventures. “Jane has all the right ingredients to become the next eBay or Shopify. They are creating a win-win for all constituents in the ecosystem – brands, retailers and consumers all benefit from their platform and trust Jane to be the go-to service provider to build the future of cannabis commerce on a global basis. I’m excited to watch Socrates and his team build an amazing company, a great place to work and a trusted brand.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.