In 2019, the legal marijuana market was valued at around USD 17.5 billion. It is predicted to reach around USD 65.1 billion by 2027. Technology is at the forefront of all this change and has been driving this industry forward. Understandably, several tech-startups came into the picture. In this article, I’ll discuss 5 such businesses that are providing a unique value proposition in the medical marijuana industry from being called the Salesforce of Cannabis to the social network of this cannabis community.
“Baker is the leading CRM for the cannabis industry, helping dispensaries generate more revenue and build relationships with their customers in one easy-to-use platform.”
The company has managed to bring together the best parts of the leading CRM in the Cannabis space to add to its already deep knowledge of operations and the cannabis supply chain. They have built an all-in-one platform having e-commerce, inventory management, distribution, texting, and loyalty programs. They call it the “Blackbird for cannabis retailers”. Blackbird is a software and service company that provides transportation solutions and marketing tools for operators.
The company was launched in 2014 as an on-demand service which soon shifted to a B2B model. Joel Milton along with David Champion, the Chief Product Officer (CPO), and Roger Obando, the Chief Technology Officer (CTO), co-founded Baker Technologies.
The major differentiator between Baker and other seed-to-sale businesses is that the company actually integrates several such businesses like Blackbird, Greenbits, Flowhub, Guardian Data Systems, and MJ Freeway to name a few that track each plant and cannabis-infused products from growing, packaging, shipping, and sale through to dispensaries. Baker’s CRM also helps in reviewing strain data by providing an API integration with Leafly.
Flowhub, headquartered in Denver, CO, is a seed-to-sale management company founded by Kyle Sherman and Chase Wiseman.
The company also handles the business compliance for legal growth and sale of marijuana following each state’s regulations. With the integrated hardware and software platform, Flowhub supervises all the inventory from growth through to the retail point-of-sale in dispensaries.
According to the CEO, Sherman believes that the company is more than just a point-of-sale software. Rather, the reports that consumers get from Flowhub can provide insights into the sales breakdown, the top-selling products, the total cost per ticket, etc. The software is dedicated to providing granular customer detail for compliance.
Eyechronic is a dispensary tech company that focuses on creating real-time content in cannabis shops throughout the United States. The company produces advertisements to generate consumer engagement at the point of sale. They also track customer flow to improve the buying behavior and increase the chances of future sales.
Eyechronic is certainly benefiting from all the restrictions that the other cannabis tech companies are facing due to the strict government regulations in place. They are unable to advertise on social platforms such as Facebook and Instagram.
The companies face similar difficulties in advertising on the network and cable television and also unable to completely capitalize on Google’s ad platform. Hence, Eyechronic’s access to thousands of cannabis shops makes them the best platform to advertise with right now.
“Every healthcare professional on the QuickMedCards platform is licensed by their state to certify patients for marijuana. Our customer service team is available 7 days a week. QuickMedCards helps people find excellent doctors and healthcare providers to talk with about getting certified for legal marijuana use within their state.”
When most businesses are busy selling cannabis products, QuickMedCards is trying to help consumers get access to medical marijuana cards who are in need of marijuana as a cure for their illnesses. The company has highly qualified and certified medical marijuana doctors to assist patients with their ailments and recommend the right dosage of marijuana for their cure. The website makes it very easy for both doctors and patients in terms of usability. Patients can book appointments in under 10 minutes with the doctors available in their location.
As an individual, I can consult with a doctor from the comfort of my own home without having to travel long distances in some cases, which makes QuickMedCards one of the go-to platforms.
InstacraftCBD is a CBD seller business, who is known to provide lab-tested, exceptional quality CBD products at the cheapest rates. InstacraftCBD claims to donate to charity for every order they get. Their donations involve the Wounded Warrior Project and the American Cancer Society. Because they are able to cut out the middlemen, the company can provide more in terms of quantity at better rates.
Keep checking back, until I come up with another set of tech startups in the medical marijuana sector.