Over the past decade, the cannabis industry has grown tremendously. Long gone are the days where cannabis was viewed as a powerful street drug that was potent to its users. While recreational use is still a controversial topic, the majority of experts no longer deny that marijuana consumption can have a positive impact on health. Today, the medicinal benefits of cannabis are praised instead, and 29 states have legalized marijuana use to some degree.
Among the benefits include the ability to treat glaucoma, improve lung health, help treat epileptic seizures, and even prevent cancer from spreading. And with more governing bodies becoming accepting of the health and economy benefits of cannabis, the rise of startups in the cannabis industry is also growing. Here are five cannabis companies that are paving the way for a growing future in the field:
Baker
Baker aims to be the Salesforce of the cannabis industry by providing a customer engagement platform for dispensaries and cannabis brands. Their software takes a data-driven approach to helping businesses get repeat customers through smart products like customized marketing tools. According to the company, the average Baker client sees 300% ROI in just ten weeks and a 60% increase in traffic. As of 2017, the company raised $3.5 million and is the software of choice for over 250 dispensaries across ten states.
MJ Freeway Consulting
With so many cannabis startups penetrating the market, it’s important that there are cannabis consulting companies around to guide them in the right direction, too. MJ Freeway Consulting, https://mjfreeway.com/consulting, is one such company. With knowledge of strategic planning and the cannabis industry as a whole, the firm is equipped to handle challenges and hurdles that many cannabis startups face.
Dealing with any type of controlled substance requires careful strategy and thorough understanding of local laws, policies, and procedures. Marketing is also a critical area that needs to be tread carefully. Working with an agency that understands the ins and outs of running a cannabis business is the one of the most effective ways to move forward.
PotBotics
As consumers become more accustomed to the growing acceptance of cannabis, PotBotics aims to be their resource for information. Touted as a WebMD for cannabis, PotBotics helps doctors and patients determine the best cannabis treatment based on a person’s diagnosis. This ensures that the cannabis treatment is highly customized to that patient’s specific needs.
PotBotics’ suite of products caters to different audiences. For example, PotBoticsMD allows doctors to book appointments and recommend different strains, all while remaining HIPAA-compliant. Through the platform, doctors can even video chat with patients to provide the highest level of care virtually, which is especially important for patients who suffer from issues that make mobility difficult. On the other hand, the PotBot product is a comprehensive resource platform that educates patients on the proper use of different cannabis strains.
Eaze
The self-proclaimed Uber for the cannabis industry, Eaze, allows consumers with a medical marijuana card to easily order from dispensaries and have it delivered to their door. Currently, the company operates out of California, and expects their revenues to balloon since recreational use is now legalized in the state. The company has raised $27 million in Series B financing and reports a 300% year-over-year increase in sales. By 2025, industry analysts predict the industry will generate $25 billion, giving weed delivery services like Eaze and other cannabis startups ample room for market growth.
Massroots
Massroots is the leading social network of the cannabis community. The social media platform has more than one million registered users. The site is used to empower consumers to make educated decisions about cannabis consumption, get real reviews from peers, and meet smoking buddies. This space allows users to comfortably discuss different strains and properties while staying informed on the happenings of the cannabis industry.
Users can post questions, help others, write content, and recommend strains as they see fit. Current content on the site revolves around helpful cannabis tips and guides. For example, one holiday-themed post provides suggestions on a cannabis-infused Thanksgiving, while another provides useful information on traveling with cannabis.