Dispense is a technology company.
Dispense has raised $2.0M across 1 funding round.
Dispense has raised $2.0M in total across 1 funding round.
Dispense has raised $2.0M in total across 1 funding round.
Dispense's investors include 01 Ventures, Evolution VC Partners, Foundation Capital, Great Oaks Venture Capital, Gutbrain Ventures, Harrison Metal, Moving Capital, NextView Ventures, Poseidon Asset Management, Precursor Ventures, Rackhouse Venture Capital, Social Capital.
Dispense is a B2B e-commerce software platform designed for cannabis dispensaries, providing tools to sell products online, manage operations, build customer relationships, and scale businesses.[1][2][4] It serves dispensary operators in states like Illinois, Michigan, New Jersey, Massachusetts, and Ohio, solving challenges such as compliant online ordering, queue management, and integration with point-of-sale systems amid varying state regulations.[1][2] The platform originated as a reservation system for safe pickups during early cannabis market constraints and has expanded to full e-commerce, with integrations like Aeropay for cashless payments; it raised $2 million in seed funding and aimed for over 100 locations by mid-2022, indicating early growth momentum.[1][2]
Dispense was founded in 2020 by Kyla Moore (CEO) and Tim Officer (CTO), who leveraged their prior experience with Tablelist—a ticketing and reservations platform—to address cannabis dispensary needs.[1] The idea emerged from the need for safe, scheduled customer pickups during regulatory restrictions on in-person sales; their initial proof-of-concept succeeded at Ascend Wellness Holdings' busy Collinsville, Illinois location, leading to rapid adoption across more Ascend sites.[1][2] Early traction came from this multi-state operator (MSO), prompting evolution from reservations to comprehensive e-commerce; by 2022, the team grew from two to five members post-seed funding, with plans to expand to 10-12.[2]
Dispense rides the wave of cannabis legalization and digital transformation, capitalizing on post-pandemic shifts to online sales and cashless payments in a fragmented, regulation-heavy industry.[1][2] Timing aligns with multi-state expansion by MSOs like Ascend Wellness, where traditional retail models struggle with compliance and efficiency; market forces like M&A activity and demand for integrated tech favor agile startups like Dispense.[2] It influences the ecosystem by enabling dispensaries to build direct customer relationships, reducing reliance on third-party marketplaces, and setting a model for compliant, scalable B2B software in emerging legal markets.[1][2][4]
Dispense is positioned for continued ascent through product enhancements, team expansion, and potential M&A to bolster its offerings in a consolidating cannabis tech space.[2] Trends like further U.S. legalization, AI-driven personalization, and deeper fintech integrations will shape its path, potentially accelerating growth beyond 100+ locations into new states. Its influence may evolve from niche reservation tool to dominant e-commerce platform, empowering dispensaries to thrive in a maturing $30B+ industry—echoing its origins in solving real-world pickup bottlenecks with scalable tech.[1][2]
Dispense has raised $2.0M across 1 funding round. Most recently, it raised $2.0M Seed in September 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Sep 1, 2021 | $2.0M Seed | 01 Ventures, Evolution VC Partners, Foundation Capital, Great Oaks Venture Capital, Gutbrain Ventures, Harrison Metal, Moving Capital, NextView Ventures, Poseidon Asset Management, Precursor Ventures, Rackhouse Venture Capital, Social Capital, XYZ Venture Capital, Adrian Aoun, Anthony Pompliano, Curtis Chambers, Hovhannes Avoyan, Jeff Seibert, Jett McCandless, John Abele |