The famous Canadian cannabis company HERB has closed over $4 million USD in funding as their funding series have ended with apparent success. Herb CEO Matt Gray said:”This is a monumental moment for HERB and a testament to the shift of public view on the cannabis industry”.
“As we usher in a new and diverse demographic of cannabis consumers, investors are seeing the value in the cannabis industry and importance of having a reliable technology platform to educate and inform consumers,” Gray added.
Since its founding, HERB has been located in Toronto, which was their only office location so far. With the funding from this series round the will not only move into new offices, but they will also work on new studios to enhance their offering of video content online.
The funding series were mostly led by media veterans Lerer Hippeau Ventures, Michael Lazerow of Slow Ventures, and Hall-of-Famer Joe Montana’s Liquid 2 Ventures. Yes, Joe Montana is into weed, 4 million deep.
“During our research into the cannabis industry, it became clear to both myself and our team at Liquid 2 Ventures that HERB was the most professionally run business for relevant, informative, cannabis content,” Montana said.
Eric Hippeau, one of the managing partners over at Lerer Hippeau Ventures said: “There was a void in the marketplace and HERB filled it”, as well as the reason behind the purchase being: “Because the market is so new, brands wanted to establish themselves and reach consumers, and consumers wanted to know more about sellers, products, legislation, and all other content related to the cannabis business.”
Source: Business Insider