NEW YORK, September 21, 2021 – PRESS RELEASE – Dosing, a leading digital pharmacy management platform, announced the completion of its $ 2 million seed funding. The investment round is led by NextView Ventures with NextView co-founder, Lee Howerto join the Dispense Board. Leading cannabis VCs Poseidon wealth management and Achari Ventures participated, along with Arrive, a Roc Nation company, and Wayne Chang.
Dispense is one of the fastest growing software companies in the cannabis space. The platform is currently used by pharmacies in five states, including Illinois, Michigan, Ohio, New Jersey, and Massachusetts. Since the beta launch in August 2020, Dispense has processed over 1.5 million orders valued at over $ 200 million with just two employees. Co-founders Kyla Moore and Tim Officer plan to use the funding to hire top talent, develop and improve their product, and scale their sales and marketing efforts.
Prior to Dispense, Moore and Officer founded Tablelist and TablelistPro, online ticketing, reservations, and event management software for nightlife and events. When nightlife and in-person events ceased due to the pandemic, the team flipped the software and used it to help cannabis dispensaries manage their customer purchases and collections.
“What makes Dispense unique is that our software is designed to support our pharmacy partners and to provide them with easy-to-use tools not only to take online orders, but also to establish and maintain direct customer relationships, their sales optimize and streamline your processes. ” said Moore, who serves as the company’s CEO. “This new funding will allow us to grow our team, expand into additional states, and continue to develop features that meet the needs of pharmacies and their customers.”
Dispense differs from other online pharmacy management platforms in that retailers have 100% ownership of their customer data, online orders, and order details. Dispense gives business owners the tools to connect, build, and nurture relationships to create loyal and lasting customers. The platform is used by some of the leading pharmacies in the country, including Ascend Wellness, a leading retailer in the Midwest and East Coast.
“Our experience with Dispense so far has been great,” said Abner Kurtin, Founder and CEO of Ascend Wellness. “Their hospitable, customer-centric approach to developing the software has made them both intuitive and easy to use. E-commerce and order management software output is an important part of our customer service experience at Ascend.”
“We are very excited to have the opportunity to work with Kyla Moore and Tim Officer at Dispense,” said Hower, who is also a partner at NextView Ventures. “The growth they have achieved over the past year is amazing. I’ve worked with a lot of early stage software startups in my career, and Dispense’s software is really top notch. We see a tremendous opportunity to work with Dispense to develop the extension of their unique, customer-centric platform that is already making waves at some of the largest pharmacies in the industry. “
“We are excited to be both a Dispense investor and a strategic partner,” said Emily Paxhia, Poseidon’s co-founder and management partner. “Their platform provides much-needed solutions to the growing cannabis retail sector, and their focus on the customer experience along with their sophisticated software will help them scale across the cannabis industry while making retailers ‘lives easier and customers’ experiences more enjoyable. “