Green Bits, cannabis POS and TechCrunch Disrupt First Runner-Up, Launches in all States with Legal Recreational Marijuana
San Francisco, CA (PRWEB) September 24, 2015 -- Green Bits today announced it was the first runner-up at San Francisco’s prestigious TechCrunch Disrupt Battlefield competition, which had never before accepted a company from the cannabis industry. The company also announced it is launching its point-of-sale software services in all states with legal recreational marijuana: Washington, Oregon and Colorado.
Founded in 2014 by Ben Curren and bootstrapped with proceeds from selling his Outright accounting software company to GoDaddy, the one-year-old point-of-sale system already serves nearly half of the retail recreational marijuana market in Washington, despite the software still being in the beta stage.
TechCrunch Disrupt is a highly regarded technology event known for identifying and producing young companies that are changing technology applications across sectors. Previously, no cannabis company had been accepted into the Battlefield, which receives 1,000 applications but accepts fewer than 25 start ups. Green Bits was not only accepted to the competition, but advanced to the final round of just six participants and was then named first runner-up.
The team’s advancement in this premier investment event brings mainstream Silicon Valley credibility to the cannabis industry, which struggles with a perception of being mired in a “gold rush” mentality.
“I am deeply honored to have made it to the TechCrunch Disrupt Battlefield finals,” said Curren, who presented at the grueling multi-day event alongside co-founder Trae Robrock. “There's not a lot of competition providing this sort of software with our pedigree within the marijuana market. This is Silicon Valley-quality software, custom-tailored for this new business model, and I am thrilled my peers in technology have recognized that.”
See Green Bits’ TechCrunch Disrupt presentation here.
Green Bits point-of-sale software is heralded as the first to work the way marijuana retail works - a critical distinction in an industry facing high product demand, strict reporting and compliance requirements, and unprecedented volumes of cash on-hand.
Curren and his co-founders, former Outright colleagues Trae Robrock and Andrew Katz, developed the software working alongside recreational marijuana retailers as their stores opened. While other POS companies have shoehorned, revamped, and retrofitted their software to fit this unique segment, Green Bits seamlessly meets the needs of marijuana retail. An easy-to-use iPad-based register and web-based inventory solution work together and automatically sync to each state’s system.
“We wanted our software to work like that in a marijuana store: You ring the customer up, and it's simple; but our software also ensures that you're in compliance with state and federal laws governing the sale of marijuana,” says Curren.
Retail stores must buy from licensed growers, and those orders have to be filed with the state. Green Bits complies with the seed-to-sale tracking requirement at the retail level. When marijuana comes into the store, Green Bits reports it. Once product is placed on the shelf and sold, Green Bits is there again, automatically providing the data the state requires for compliance.
Because of individualized state reporting requirements, Green Bits customizes for each state. Having achieved 45 percent market share in Washington state while still in the beta stage of product development, Green Bits is now moving into Oregon and Colorado.
A firm believer in open-source development, Green Bits pushes out updates frequently in response to customer demands and changing regulatory needs.
ABOUT GREEN BITS
Green Bits is the marijuana retail POS system built in partnership with marijuana retailers so it runs the way marijuana store needs it to, focused on: speed and ease of use for budtenders, accurate seed-to-sale inventory control, painless product catalog management, and secure-yet-flexible cash management. Green Bits was founded in 2014 by Ben Curren. Visit http://www.greenbits.com for a demo and more information.
Lena Parsons, Green Bits, http://greenbits.com, +1 (773) 425-0725, [email protected]
Share this article