Imagine what Ron “Slater-son” Slater would be saying today if he were in high school while the country was on the precipice of federal cannabis legalization! This week’s most interesting features the announcement from Irvine, CA based WM Technologies, of its upgraded B2B SaaS suite – now Weedmaps for Business – whose new design and functionality efforts to address the needs of cannabis brands and retailers for a “unified set of tools that would help [them] with the lifecycle of how they reach, convert, retain consumers — but also how they get insights and analytics around that lifecycle”. The enhanced, SaaS-based e-commerce and compliance platform is being heralded as a more functional and integrated suite of tools aimed at being an end-to-end solution for participating purveyors. Say’s management, the new platform is the product of “years of acquisitions and M&A activity”. The announcement serves as yet one more data point to validate that continued investment in cannabis-centric business models and technologies, whether that’s in e-commerce, payments, logistics, marketing, compliance, or ERP, is legitimate, and less speculative than in the past. Coming on the heels of some not-so-inconsequential regulatory news – most notably Sen. Cory Booker’s August 1st comment that he’d be “open to compromises” on new federal legislation that would make allowances for cannabis industry-related funding and banking, provided it included some social justice provisions – the success of WM Technologies, as evidenced by this latest release, ought to help continue to solidify positive investor sentiment for the space – sentiment that’s been withering away since the height of optimism in the sector following the 2020 elections.
WM Technologies is indeed, pretty cool man.
Weedmaps For Business Debuts as a SaaS Suite For Cannabis Retailers and Brands