Debra Borchardt
San Francisco- based cannabis delivery company Eaze raised an additional $27 million in Series B financing bringing the company’s total funding to $52 million. The round was led by Bailey Capital with participation from DCM Ventures, Kaya Ventures, and FJ Labs. The money will be used to continue the company’s expansion throughout California as well as other states.
“An increasing number of Americans recognize that when used responsibly, marijuana can dramatically enhance their lives. Through our commitment to education, Eaze is playing a crucial role in the normalization of something that can unequivocally make lives better,” said Jim Patterson, CEO of Eaze. “With the legalization of adult use marijuana on the horizon, we look forward to using our data, technology, and platform to continue to serve our mission of providing safe, secure access to marijuana products at the lowest prices with the utmost convenience.”
Eaze customers use the company’s mobile app or access its website to get medical marijuana delivered from a compliant dispensary. Since its launch in 2014, the company has grown to make 120,000 deliveries per month. Gross sales have increased 300% year-over-year and the company has over 300,000 users in California.
“Their focus on the customer experience through wide selection, competitive pricing, and fast delivery meets the demand of today’s consumer,” said James Bailey, Managing Partner of Bailey Capital. “As a tech company, Eaze is taking a stand in an industry negatively affected by the century long war on drugs and takes a proactive mission to make cannabis an industry of equality and opportunity. Eaze is poised to create more jobs and tax revenue than any other company in the industry.” Bailey has joined the company’s board of directors. He has also been an investor in PAX Labs, High Times and MedMen.
Eaze MD facilitates connections between medical marijuana patients in California and board-verified doctors. Consultations are as low as $29 and handled online with a video chat. After the consultation, the patient can then access the Eaze site and go shopping immediately.
