Business

E-commerce player Jane Technologies lands $100M

By Alex Halperin
Aug 26, 2021
@_iheartjane

Shopify of weed” Jane Technologies, an e-commerce platform for dispensaries which handles for 20% of legal U.S. sales, raised a $100M Series C round bringing its total fundraising to $130M.
TechCrunch

  • Honor Ventures led the round.  
  • CEO Socrates Rosenfeld: “I think we are really seeing the next chapter of what the future of e-commerce will look like…not just in the cannabis industry, perhaps across the world with various retail verticals like alcohol, convenience goods, restaurants and groceries. Local establishments [now have] some digital connective tissue to their local community, and I don’t think there’s a more challenging environment than the cannabis industry.” 
  • According to Jane data, before the pandemic only 17% of legal sales were done online. Today they account for 38%, down from a peak of 52%. 
  • Tech Crunch: “In 2019, Jane saw $100 million in total transactional volume, with one million people on the platform, and worked with 1,000 dispensaries. In 2021, the company forecasts it will reach $3.5 billion in total transactional volume and is now working with 2,100 dispensaries, including in Canada.”
  • Its platforms sell an incredible 700,000 products.
  • WeedWeek explained Jane’s partnership with Leafly.

Don’t forget: Jane competitor Dutchie recently raised $200M at a $1.7B valuation.
WeedWeek