Cannabis ERP technology platform BLAZE raises $8m in Series A funding for market expansion
BLAZE, the industry player enterprise resource planning and point of sale platform for legal cannabis, recently closed its Series A funding round at $8 million. The round was led by Delta Emerald Ventures with participation from returning investor Act One Ventures and new investor SOJE Capital.
The new funding will help BLAZE expand, scale and build out its product, sales and marketing efforts while entering new and emerging states with legal cannabis markets. The company will continue to refine and improve its industry-leading software suite that allows for seamless operations from seed to sale, including recently launched payments processing technology BLAZE Pay. BLAZE is experiencing rapid growth, facilitating over $1 billion in annualized GMV with over 300 operators across 10 states now using the platform.
Chris Violas, Co-founder and CEO, BLAZE: "We're thrilled to have such a great group of investors to help grow our platform and company to the next level. Cannabis technology has reached an exciting tipping point and BLAZE is poised to tackle all aspects of the supply chain."
With the new investment, Delta Emerald adds to its growing portfolio of companies. The firm will use its expertise in the industry to help BLAZE build on its growing reputation for delivering simple and effective operational software across cannabis production and sales.
Ian Dominguez, Portfolio Manager, Delta Emerald: "BLAZE is emerging as one of the top requested and touted tech integrations in the cannabis ecosystem. Cannabis software consolidation and rationalization trends are well underway, and we strongly believe the BLAZE team will emerge as one of the winners. The depth, sophistication, and ease of integration with BLAZE's API positions BLAZE as a critical software partner and a superior offering compared to its competitors."
Act One previously led BLAZE's Seed round in 2019 and maintains high conviction in the team and company as a returning investor. The firm will continue to help BLAZE grow with its experience and network in compliance and vertical SaaS.
Alejandro Guerrero, Partner, Act One: "When we met BLAZE in 2019 we knew there was something special about the team and product. We always look for founders who have dynamic experience in their field and a true understanding of the problems and potential solutions, and BLAZE hits all the marks. Blaze built a superior product that touches every corner of legal cannabis and has the strongest compliance controls in the industry. We are excited for Chris and the rest of the BLAZE team and look forward to continuing the journey."