greenrush Closes Series A Funding Round
greenRush, the largest online marketplace for legally purchasing cannabis, today announced the $3.6 million closing of its Series A Funding Round. The Round will fuel the expansion of greenRush’s current recreational and medical marijuana services in California, Nevada, Massachusetts, Maryland, New York, Pennsylvania, Illinois and more.
greenRush’s latest group of investors are highly-seasoned operators from the service and CPG industries. They include James Weil, President of JMM Industries, and Chris Burggraeve, former Anheuser-Busch InBev Global Chief Marketing Officer. James Weil will be joining the greenRush Board of Directors and Chris Burggraeve will be joining the Advisory Board. These key advisory roles are critical to greenRush during its expansion and beyond, providing short and long term strategic insight and direction for overall business operations and advancement.
Rachel Shipp, greenRush Vice President of Business Development, said, “We are thrilled to welcome James Weil and Chris Burggraeve, along with a diverse network of notable venture capital, private equity, finance and marketing executives, to greenRush as investment and advisory partners.” Shipp continued, “We see an increasingly upward trend in institutional capital’s appetite and enthusiasm for investing in the Cannabis industry and our investors’ experience and guidance will help poise greenRush to successfully capitalize on those opportunities -- now and in the future.”
Headquartered in the San Francisco Bay Area, greenRush is the easiest way to legally purchase cannabis online, with hundreds of dispensary partners and tens of thousands of cannabis products available for delivery and express pick-up with a few simple clicks. greenRush currently operates throughout California and Nevada, with immediate plans to expand to Massachusetts, Maryland, Illinois, New York, Pennsylvania, and many other states with legal cannabis laws.
Since its inception in 2015, millions of dollars in legal Cannabis transactions have been facilitated on the greenRush platform. As a result, greenRush’s proprietary data offers unique insight into global online Cannabis purchasing behavior in both the recreational and medical industries.
greenRush Chief Executive Officer Paul Warshaw said, “As the largest technology platform in the Cannabis industry, we’re in a unique position to have our finger on the pulse of the latest Cannabis trends, new products and consumer purchasing behavior.” Warshaw continued, “We are excited to expand greenRush’s reach and service offerings in all states with new or recently instated legal cannabis laws, but are particularly looking forward to being a part of the recreational legalization of Cannabis in California, the most populous state in the United States, which goes into effect in January 2018. At its core, greenRush is dedicated to leading the business, medicinal and recreational Cannabis communities in a responsible, sustainable and lawful way, and we look forward to applying our socially-conscious values and methodology to every community within every new market, ultimately helping to shape the societal values and accountability around legally purchasing Cannabis in the United States.”
In September 2017, greenRush co-sponsored a market research report with New Frontier Data, which provided analysis and forecasting for Cannabis On-Demand: The Evolving Trends in California’s Medical Market. The report found that annual online cannabis sales in the state of California alone will reach nearly $3 Billion in 2017, with millennials currently accounting for 80% of the purchases.