Dispense recently announced their $2M seed round, which we are pleased to have led here at NextView. Dispense is a B2B software company, focused on transaction software specifically designed for the cannabis industry. In recent years, cannabis has emerged as a legal industry, and thus, companies operating in this new market have often had to find or build new software stacks in order to operate their businesses.
The point of sale (POS) industry for online and offline businesses is vast and pretty mature… not to mention, an area we’re familiar with from our prior investments, like Upserve. But cannabis retailers have their own unique set of needs in facilitating customer transactions, both managing online and offline interactions, as well as ensuring compliance with the regulatory requirements of this ever-evolving new category. Dispense’s software helps large, multi-state cannabis operators manage online and offline ordering by granting these businesses greater control over customer interactions, in addition to streamlining their operations.
We were excited to get to know Dispense’s co-founder & CEO Kyla Moore earlier this year. She and her co-founder, Tim Officer, launched the company in 2020, and even at this very early stage, Dispense has already helped a number of customers process more than $200M in GMV through their platform. It’s an exciting opportunity, witnessing the creation of the transaction layer for an entirely new industry, and we can’t wait to see what Dispense does next.