I've never seen our investor members rush to get their money behind a project like they did with Tradiv
Boulder, Colorado (PRWEB) October 29, 2015
Tradiv.com, the cannabis industry’s online wholesale B2B marketplace, has announced the completion of a $1 million seed-stage round of funding. The round was led by investors TL Partners, Poseidon Asset Management, and Anslinger Capital.
The company launched its online wholesale marketplace in Colorado on October 1. According to the Marijuana Enforcement Division, the state is home to approximately 2,500 marijuana dispensaries, cultivators, and infused product manufacturers.
“We founded Tradiv because we identified a need for the cannabis industry to catch up with other industries, through technology and efficiency,” said CEO Aeron Sullivan, a former Marine Captain and founder of Tradiv.com.
Tradiv completed the CanopyBoulder cannabis business accelerator program this June when the company launched its beta marketplace enabling growers, edible manufacturers, and dispensaries to source high-quality cannabis products efficiently.
The company was able to raise $1 million with the help of CanopyBoulder and The ArcView Group’s Investor Network. After pitching to ArcView’s investor members in June, Tradiv was approached by investors who saw the benefits of bringing wholesale marijuana trade online. “We have hired nine full-time employees and have built out the logistical functionality that wholesale transactions require,” Sullivan stated.
"I've never seen our investor members rush to get their money behind a project like they did with Tradiv," said Troy Dayton, CEO of The ArcView Group, the cannabis industry’s hub for investment and data. "There are a lot of gaps in the industry—e-commerce being one of them. Some of the sharpest investors in the sector believe Tradiv has the chops to be a market leader in this emerging area."
The cannabis industry is the fastest growing industry in America, according to research published by The ArcView Group. The U.S. market for legal cannabis grew 74 percent in 2014 to $2.7 billion, up from $1.5 billion in 2013.
“Marijuana companies are currently making wholesale purchases over the phone. Sales managers will now be able to evaluate the quality of the product against the cost and make direct comparisons online,” said Sullivan.
Dispensaries, cultivators, and infused product manufacturers interested in a free trial may sign up at http://www.tradiv.com.
Tradiv.com is the cannabis industry’s leading online wholesale B2B marketplace for licensed operators. Tradiv was founded in 2014 in San Diego, California. The company completed the CanopyBoulder cannabis business accelerator program in Boulder, Colorado in June and has since moved its headquarters to Boulder. Tradiv launched its wholesale e-commerce platform for licensed Colorado cannabis businesses in October 2015.