Eaze raises another $27M as money piles into cannabis tech
Eaze, the company sometimes dubbed "Uber for pot," has raised another $27 million, the latest example of investors being willing to put big bucks into cannabis-related technology. The round was led by Bailey Capital with DCM Ventures, Kaya Ventures and FJ Labs also investing.
CEO Jim Patterson said the company plans to use the additional funding to expand geographically and to help pay for expensive engineering talent. Eaze doesn't grow or deliver the pot themselves but helps connect customers and distributors via a mobile app. "A third of my company is engineers who live in San Francisco," he said. The company now has 81 employees, up from 67 just four months ago.
High growth: Eaze says its grown 300 percent over last year and is now arranging 120,000 deliveries a month
Changing market, "The days of buying a baggie full of flowers that has no brand and just a strand name is coming to an end," Patterson said, noting that Eaze bet early on that the marijuana market would quickly come to resemble more traditional businesses.
Go deeper: check out our May interview with Patterson.