Photo by Add Weed on Unsplash
The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
From “gateway drug” to the center of a multi-billion dollar industry, the change in cannabis perception has been nothing short of spectacular.
Ever since the 2018 Farm Bill legalized the recreational use of low-THC hemp and hemp-based products, the idea of cannabis has finally begun to shift from “mind-killer” to “respected commodity.” Decades of anti-marijuana propaganda are slowly morphing into yet another stimulant to the U.S. and global economies.
Whether it’s the presence of cannabis operators like Aurora Cannabis Inc. ACB and Tilray Inc. TLRY on established exchanges or the creation of 300,000 jobs, the economic and cultural presence of cannabis has never been harder to ignore.
But this rapid rise in popularity has come at a cost. The political landscape has not reflected the vigor with which the economy has accepted cannabis. Despite the acceptance of recreational cannabis in over 18 states, cannabis remains listed as a Schedule I drug, and some states like Texas still consider any cannabis use illegal.
The regulations that govern acceptable ways to sell cannabis are even more nuanced. These regulations change state by state and usher in a wave of confusion that culminates in titles like “Are Delta-9 THC Gummies Legal in Your State? Check Here!”
One cannabis company, WebJoint has used this confusion in its favor. By working through its in-house delivery software, the company is attempting to solve the direct-to-consumer issue in the cannabis industry.
Who Is WebJoint, and What Problem Is It Solving?
Early on, the founders of WebJoint recognized a unique opportunity in the growing cannabis industry: technology companies were focusing on supporting brick-and-mortar dispensaries with software solutions that managed compliance and business operations, but nobody was providing the same tools for the non-storefront retail deliveries of the supply chain.
California is the pioneer of cannabis delivery, being one of the first states to implement home delivery into their regulations upon legalization. Today, over 54% of cannabis consumers in the state purchase cannabis exclusively through delivery. Since the pandemic, that number has only skyrocketed as consumer buying behaviors shifted towards cannabis delivery as the safer, more convenient option to purchase cannabis.
With WebJoint’s Software-as-a-Service (SaaS) solution, the company claims to be the largest cannabis delivery software on the market, as over ⅓ of California’s licensed and operating non-storefront retailers are using WebJoint to manage their business operations every day. Its retail software suite not only automates compliance with state and local regulations, but also gives cannabis deliveries everything they need to operate their business: from eCommerce, POS, inventory management, and even managing their fleet.
Since its inception, WebJoint has processed over $161 million in cannabis delivery transactions and now has 90% coverage in California’s major cities. Now, WebJoint has their sights set on capturing the delivery market on a national scale. The increased demand for cannabis delivery post-COVID has forced regulators in states across the nation to rethink the importance of incorporating cannabis delivery regulations into their supply chains.
Garnering over $800,000 of capital through its StartEngine page, WebJoint has raised a total of $2.2 million for its cannabis software delivery platform since 2014. With 1.9 million deliveries in 819 different California cities, WebJoint claims it’s finally ready to take on the market in other cannabis-friendly states.
You can learn more about WebJoint and its offerings here.
The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Meet the biggest cannabis industry players and make deals that will push the industry forward.
Featuring live company presentations, insider panels, and unmatched access to networking, the Benzinga Cannabis Capital Conference is where cannabis executives and entrepreneurs meet.
Join us April 11-12, 2023 at Fontainebleau Miami Beach in sunny Florida.