Cannabis Tech Giant Announces Close Of Series B Round Of Funding To Expand Footprint
Jun 12, 2019, 05:00 ET
NEW YORK, June 12, 2019 /PRNewswire/ -- Enlighten, a multifaceted cannabis technology company, has announced today that it has closed an oversubscribed Series B round of funding in a total amount in excess of $6.5 million led by Tuatara Capital, L.P., a specialized alternative investment manager focused on supporting high-growth companies in the legal cannabis industry. The Series B funding also brought in a new strategic investor in Arcadian New Venture Fund, L.P.
Already one of the most well-funded cannabis technology companies, Enlighten management indicated that this round of funding will allow it to further expand the Enlighten TV network, finalize new technology and data solutions and expand its Enlighten Wellness division, focused more broadly on alternative health. "Having already solidified our company as the world leader in place based cannabis advertising," said Chairman and CEO, Jeremy Jacobs, "we will strive to continue to innovate and build upon our marketing and technology solutions to ensure that this rapidly growing industry has a robust platform to reach and educate the cannabis consumer. We feel strong about our market position as the industry continues to mature and know that this capital infusion will allow us to continue to grow and serve the industry."
About Enlighten:
Enlighten's media and adtech platform reaches millions of cannabis consumers each month, offering the safest and most targeted way to advertise to this rapidly growing demographic. As a full scale enterprise technology solution serving the cannabis industry, Enlighten is already working with nearly 1,000 cannabis and hemp businesses, including dispensaries, cultivators and producers, head shops, cannabis lounges and healthcare facilities to bring cutting edge retail technology to the cannabis industry. With an education forward approach, Enlighten helps its partners grow their brand and build relationships with their customers through a variety of solutions. Its technology solutions are intended to increase revenue and awareness and keep customers engaged. Enlighten is one of the widest reaching and longest tenured companies in cannabis. For more information about Enlighten please visit getenlightened.io.
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