Eaze, the cannabis technology and delivery firm, has raised $27 million in Series B financing led by Bailey Capital, bringing the company’s total funding to $52 million. Bailey Capital is led by James Bailey, who has also invested in PAX Labs and High Times. DCM Ventures, Kaya Ventures, and FJ Labs also participated in the round.
“Eaze has transformed the way people legally access marijuana. Their focus on the customer experience through wide selection, competitive pricing, and fast delivery meets the demand of today’s consumer,” said Bailey, who also joined the company’s board of directors, in a statement. “As a tech company, Eaze is taking a stand in an industry negatively affected by the century-long war on drugs and takes a proactive mission to make cannabis an industry of equality and opportunity. Eaze is poised to create more jobs and tax revenue than any other company in the industry.”
Jim Patterson, CEO, indicated the investment would help the company migrate into California’s recreational cannabis market.
“With the legalization of adult use marijuana on the horizon, we look forward to using our data, technology and platform to continue to serve our mission of providing safe, secure access to marijuana products at the lowest prices with the utmost convenience,” he said in a press release.
Since its launch in 2014, Eaze has seen a 300 percent year-over-year gross sales increase and is facilitating over 120,000 deliveries per month.