Cannabis Investor Survey, Product Operations, Recurring Revenue Funding – TechCrunch

The cannabis industry is doing very well in the United States: more than 75% of the population lives in a state where access is authorized, and the legal market is expected to generate $33 billion this year.

However, a black market still eats away at industry bottom lines, and a patchwork of state regulations artificially limits TAM for public and private companies managing cultivation operations, distribution, transportation, inventory control, testing, and processing. point of sale software.

In California, dispensaries advertise on freeway billboards and budtenders are common at weddings, but Anna Heim found the industry still has a long way to go before it comes of age. nationally, in large part because federal laws continue to prohibit cannabis-related businesses from using traditional financial services.

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To learn more about the underlying market forces and obstacles faced by entrepreneurs and investors in this maverick industry, she spoke with four investors:

  • Jacqueline Bennett, Managing Partner and Co-Founder, Highlands Venture Partners
  • Yoni Meyer, Partner, Casa Verde Capital
  • Matt Hawkins, Managing Partner and Co-Founder, Entourage Effect Capital
  • Emily Paxhia, Managing Director, Poseidon Investment Management

Emily Paxhia joined Anna and me yesterday for a Twitter space to discuss some of the survey topics in more depth, describing cannabis as “today’s fastest growing consumer packaged goods category. “.

Although delivery services are currently overstretched, she said she is actively recruiting professionals with CPG experience in marketing, product management and other roles for Poseidon’s portfolio companies.

Thanks so much for reading TechCrunch+ this week! We will be posting on a reduced schedule over Memorial Day weekend; Hope you enjoy the break.

Walter Thompson
Editor-in-Chief, TechCrunch+

Pitch Deck Teardown: Lumigo’s $29 Million Series A Deck

Picture credits: Lumigo

Since its launch in 2019, cloud-native application monitoring and debugging platform Lumigo has raised $38 million from investors.

Last November, we announced that Lumigo had closed a $29 million Series A; this week we released 20 of the company’s original 22 slides.

“The team told me that their market analysis and financial projections were commercially sensitive,” wrote Haje Jan Kamps. “That makes perfect sense.”

To fully embrace product-driven growth, create a strong product operations team

A crowd of people wearing red shirts, forming a graph, symbolizing product operations and contributing to product driven growth

Picture credits: Henrik Sorensen (Opens in a new window) /Getty Pictures

Product managers turn customer needs and business requirements into money-making services and features, but that’s a limited role.

Although PMs interact with customers and internal sales, marketing, and engineering stakeholders, they are rarely empowered to implement best practices, select tools, or manage the operational aspects of the product pipeline. .

That’s changing as more companies carve out roles for product operations, writes Todd Olson, co-founder and CEO of software platform Pendo.

“It’s similar to how sales and marketing operations help their departments,” he says, and “it’s a critical function for any business that wants to make their product the ‘center of the wheel.’ “

Dear Sophie: Does the International Entrepreneur Word have any advantages over an O-1 visa?

Lone figure at the entrance to the maze hedge which has an American flag in the center

Picture credits: Bryce Durbin/TechCrunch

Dear Sophia,

Are there any advantages to the international contractor parole over an O-1 visa?

The IEP seems to require institutional support of $250,000 – so getting an O-1A doesn’t seem like a huge reach from there.

I feel like the O-1A has many other benefits as well. I would love to hear your thoughts on this.

— Desirous entrepreneur

Can recurring revenue funding drive growth in a turbulent market?

Easel with turning arrow.  Financing of recurring revenues

Picture credits: Andrii Yalanskyi (Opens in a new window) /Getty Pictures

Few founders are eager to raise funds in a bear market because investors will inevitably ask for more while offering less.

But according to Harry Hurst, CEO and co-founder of Pipe, a recurring revenue startup already has a valuable asset it can leverage.

“By selling future streams of income to investors for initial capital, they get a steady return and you can grow faster based on your already accrued income, taking advantage of great opportunities and the time value of that capital as you evolve.”

Mayfield’s Navin Chaddha: I’ve looked at the clouds both ways now

A small green frog sitting on a leaf takes shelter from the rain

Picture credits: Mohamed Ridha/500px (Opens in a new window) /Getty Pictures

As Mayfield’s managing partner and three-time founder, Navin Chaddha experienced two downturns.

“I’ve invested in over 60 companies, and while many have gone public or been acquired, the journey has included pivots, near-death experiences, and navigating through the 2008/2009 recession,” writes- he in a TC+ guest post.

“Every era is different, but here are some tips for our new normal.”

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