ProCanna — Organizing the Complex Cannabis Regulatory Environment

Feb 21

We’re excited to announce our next investment in ProCanna. Learn more about the company and how you can participate in their equity crowdfunding campaign for as little as $100.

The Problem

Cannabis is a young industry that is just getting its legs underneath it after decades of prohibition. Tough, ever-evolving state regulations present a multitude of challenges to running a compliant cannabis business, including difficulty obtaining licensure, varied and ever-changing state regulations, lack of defensible operational procedures, development and implementation of effective policies and procedures and proper employee training to minimize errors and employee turnover.

What The Company Does

ProCanna’s accessible/searchable regulations and foundational policies/procedures cut off hours of work and money from the licensing process. Real-time updates on cannabis regulatory and legislative changes ensure operators always know what’s what, minimizing both stress and organizational risk. The platform features easy-to-use tools to create, upload, maintain, share, check, document and report operational information. Effective employee training and testing tools improve operations and retention.

Business Model

ProCanna charges a SaaS monthly subscription based on facility type, state, and number of users for operators and trusted advisors. The company has a referral agreement to encourage trusted advisors to bring clients to ProCanna. The also use APIs to provide a cross-marketing revenue stream and added functionality for end-users.

Traction

ProCanna has users, both cannabis operators and trusted advisors, currently on the platform. The company has a robust social equity program and will be the featured presenter at the Michigan MRA’s February 2022 educational webinar. We are in negotiation with a number of potential collaborators and advisory board members.

Founding Team Background

Co-founder and CEO, Dede Perkins has worked in the cannabis industry since 2013. She has written license-winning cultivation, manufacturing, dispensary and adult-use retail applications in highly competitive states, including California, Maryland, Massachusetts, Missouri, Nevada, New York, Ohio, Utah, and Pennsylvania. Tony Perkins, Co-Founder and VP has practiced law at Bernstein, Shur, Sawyer and Nelson, a 120-attorney law firm with offices in Portland, Maine and Manchester, New Hampshire, since 1985. A shareholder since 1991, Tony served for over ten years as co-chair of the firm’s Business Law Group and now serves as co-chair of the firm’s Technology, Outsourcing & Data Security Practice Group.

What They Need Help With

ProCanna is looking to connect with U.S. cannabis licensees, trusted advisors working in the industry and investors interested in non-plant touching cannabis investment opportunities. The company would also like to connect with SaaS and cannabis industry experienced sales professionals and cannabis regulatory specialists. Check out their Wefunder campaign here. Connect with the ProCanna team.

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Jeff Piltch

Passionate about the Boston and broader New England startup ecosystem. You’ll see me writing about that, technology’s impact on real estate, and other stuff.