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Five Cannabis Software Startups We See Succeeding Long-Term
Why Dutchie, Pistil Data, Elevated Signals, LeafLink, and Greenline POS are here to stay
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Alongside the explosive growth of the cannabis industry we have seen an explosion in ancillary services, including the number of cannabis software startups seeking to support producers, retailers, sales reps, and customers from seed to sale.
For today's edition of Four PM, we’re analyzing five cannabis software startups that we see succeeding long-term, and what’s at the heart of their success.
Dutchie: Cannabis e-commerce software
Dutchie was started by two very experienced founders who have arguably built the most valuable software application within the cannabis industry.
Although the company is not currently valued as highly as Weedmaps and Leafly, the value of their service is very clear—unlike Weedmaps and Leafly, both of which are currently attempting to be many different things to many different people.
Dutchie focuses on providing cannabis retailers with the software they need to receive and process online orders as smoothly and efficiently as possible.
Current number of employees: (150)
Pistil Data: Data analytics for cannabis sales teams
I have no information on what this company is worth, but what’s clear is that Pistil Data has a highly experienced leadership team.
With former Directors of Google and Intel, and VPs of very successful cannabis software startups among their leadership ranks, Pistil Data has assembled a highly talented team by all accounts.
In addition to having the right team, they are solving the right problem—one which has yet to be solved. While there is an abundance of startups providing point-of-sale software to cannabis retailers, Pistil is the only company specifically focused on helping sales representatives succeed.
Current number of employees: (8)
Elevated Signals: Cannabis cultivation software
Elevated Signals is a cannabis startup that only recently appeared on my radar.
There are two primary reasons why I see Elevated Signals succeeding long term. First, they are growing at a very rapid rate, a telltale sign that there is a demand for the solution they are providing. Secondly, I have never heard more positive reviews of a software application on Twitter than Elevated Signals receives from its customers.
Anytime they are in the press, I see their customers reposting these publications, communicating how highly they value the software solutions they provide.
Current number of employees: (12)
Greenline POS: Cannabis point-of-sale software
Greenline is likely the easiest pick on this list, as I had the opportunity to use their software back in 2019.
Besides having a fantastic leadership team, what’s giving Greenline an edge over their competition is their relentless focus on the Canadian cannabis market.
Each province in Canada has its own set of regulations, and each U.S. state the same. By choosing to exclusively focus on Canada, Greenline has afforded themselves the advantage of focus; simple as this may seem, this is why I’m bullish on Greenline long-term, as riches are found in niches.
Current number of employees: (15)
LeafLink: Cannabis wholesale marketplace
LeafLink is a company that I began learning about at the beginning of 2019.
At the time, I didn’t quite appreciate the infrastructure they were building, as I lacked a strong understanding of the market dynamics of cannabis in the U.S.
With over 5,700 retailers and 1,800 brands, LeafLink has such an incredible head start on its competition, making it almost impossible for anyone to catch up. Coupled with the $40 million USD they just raised it will be hard to see anyone catching up with LeafLink.
Current number of employees: (140)
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