TechCrunch+ Review: Cannabis Investor Survey, Product Management, Regular Revenue Funding

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The cannabis industry in the United States is doing very well, with over 75% of the population living in a state where access is allowed, and the legal market is expected to generate $33 billion this year.

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However, the black market continues to undermine the industry’s profits, and a patchwork of government regulations artificially limits TAM for public and private companies running growing, distribution, transportation, inventory control, testing, and point-of-sale software operations.

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In California, pharmacies advertise on freeway billboards and budtenders are often seen at weddings, but Anna Heim found that the industry still has a long way to go before it reaches maturity nationwide, largely because federal laws continue to ban cannabis businesses from using traditional financial services.

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To learn more about the key market forces and hurdles entrepreneurs and investors face in this independent industry, she spoke to four investors:

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

Emily Pakshia joined Anna and me on Twitter Space yesterday to discuss some of the survey topics in more detail, calling cannabis “the fastest growing consumer product category today.”

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

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

Walter Thompson
Senior Editor at TechCrunch+

Pitch Deck Teardown: $29M Lumigo Series A Deck

Image credits: Lumigo

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

Last November, we reported that Lumigo closed a $29 million Series A; this week we published 20 original company presentations in 22 slides.

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

To take full advantage of product-driven growth, build a strong product management team.

A crowd of people in red shirts form the shape of a graph symbolizing product operations and contributions to product-based growth.

Image credits: Henrik Sorensen (Opens in a new window) / Getty Images

Product managers translate customer needs and business requirements into profitable services and features, but this is a limited role.

Although product managers interact with customers and internal stakeholders from sales, marketing, and engineering, they rarely have the authority to implement best practices, select tools, or manage the operational aspects of a product pipeline.

That’s changing as more companies create product roles, writes Todd Olson, co-founder and CEO of the Pendo software platform.

“It’s like how sales and marketing help their departments,” he says, “and it’s a critical feature for any company that wants to make its product the center of the wheel.

Dear Sophie! Does International Employer Parole have any advantages over an O-1 visa?

a lone figure at the entrance to a hedge maze with an American flag in the center

Image credits: Bryce Durbin/TechCrunch

Dear Sophie,

Are there any benefits for International Employer Parole over an O-1 visa?

The IEP seems to require $250,000 in institutional support, so getting an O-1A doesn’t seem like a huge achievement.

It seems to me that O-1A has much more advantages. I would like to hear your thoughts on this.

– Passionate Entrepreneur

Can regular revenue financing drive growth in a turbulent market?

An easel with an arrow pointing backwards.  Periodic Income Financing

Image credits: Andrey Yalansky (Opens in a new window) / Getty Images

Few founders are keen to raise funds in a down market, as investors will inevitably ask for more with less.

But according to Harry Hurst, CEO and co-founder of Pipe, the recurring income startup already has one valuable asset it can tap into.

“By selling future streams of income to investors for upfront capital, they get a stable income, and you can grow faster based on the income already recorded, using the greater opportunities and time value of this capital as you scale.”

Naveen Chadda of Mayfield: now I’m looking at the clouds from both sides

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

Image credits: Muhammad Ridha/500px (Opens in a new window) / Getty Images

As Mayfield’s managing partner and three-time founder, Naveen Chadda has experienced two downturns.

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

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

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