LOS ANGELES, April 8, 2019 /PRNewswire-PRWeb/ -- SHO Products, a leading manufacturer and distributor of cannabis accessories, equipment, and technology, today announced it has closed a $3.6 million Series A funding round led by New York philanthropist and venture capital investor Ann Tenenbaum with support from other key investors. SHO Products plans to use the new capital to expand the leadership team with more strategic hires, and to increase acquisitions to bolster its footprint in the cannabis accessories and products industry.
SHO Products is quickly becoming a recognized leader in the distribution and marketing of premium products in the growing head shop, smoke shop, dispensary channels. Through a growing distribution footprint of over 5,000 smoke shops and dispensaries throughout the United States, SHO Products is poised for rapid growth.
SHO Products is coming off a strong year of growth in which it saw revenues increase 56% year over year, and total headcount go from 12 to 32, and strong market share and thought leadership presence worldwide. As part of this Series A round, Tenenbaum will join the SHO Products Board of Directors, which includes Co-Founders Samuel Jurist (CEO) and Vincent D'Accolti (COO).
"SHO Products has seen rapid growth since its inception in 2015, and this capital investment will be used to grow our marketing and distribution capabilities, as well as our solventless extraction technology, giving us the ability to scale accordingly with market growth and demand," said Jurist.
"There is great value creation in this highly scalable ancillary marketplace that Sam and his team are building. We are at an ideal time for SHO's platform as the industry's rapid growth will continue to demand greater solutions for marketing, representation, and distribution. Our participation is a testament to SHO's progress, and we look forward to seeing our strategic capital provide accelerated market penetration," said Tenenbaum.
About SHO Products
SHO Products (SHO meaning Solventless Hash Oil) is a leading manufacturer and distributor of cannabis accessories, equipment, and technology in the world. Our goal is to educate customers while providing world-class products for solventless extraction, processing, and consumption. For more information, please visit http://www.shoproductsteam.com, or follow us on Facebook and LinkedIn.
SOURCE SHO Products
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