Digital dispensary management platform, Dispense, announced the completion of its $2M seed funding. The round is led by NextView Ventures with NextView co-founder, Lee Hower, joining the Dispense board. Leading cannabis VC's Poseidon Asset Management and Achari Ventures participated, along with Arrive, a Roc Nation company, and Wayne Chang.
Dispense is seeing rapid growth in the cannabis space and is currently functional in five states, including Illinois, Michigan, Ohio, New Jersey and Massachusetts. Dispense has processed over 1.5 million orders since its launch in August 2020, with an order value of over $200 million with only two employees.
The successful duo, Kyla Moore and Tim Officer also built Tablelist and TablelistPro earlier. They now plan to hire top talent, continue developing and enhancing Dispense, and scale their sales and marketing efforts using the received fund.
"What makes Dispense unique is that our software is built to empower our dispensary partners, giving them simple-to-use tools to not only take online orders but to build and maintain direct customer relationships, optimize their sales, and streamline their operations," said CEO and Co-Founder Kyla Moore. "This new funding will allow us to grow our team, expand into more states and continue to build features that align with the needs of the dispensaries and their customers."
Dispense is in use by some of the country's top dispensaries, including Ascend Wellness. "Our experience using Dispense so far has been great," said Abner Kurtin, CEO and Founder of Ascend Wellness. "Their hospitality and customer-centric approach to building the software has made it both intuitive and easy to use. Dispense e-commerce and order management software is an important part of our customer service experience at Ascend."
The company stands out among similar platforms by giving retailers 100% ownership of their customer data, online orders, and order details. Dispense allows business owners to connect, build and nurture relationships to gain loyal customers.