Cannabis Technology Platform Alleaves Closes $40 Million in Financing

Alleaves, a Florida-based cannabis enterprise resource planning (ERP) technology platform, said it is closing a $40 million Series A round of funding to accelerate its multi-state commercial rollout. The funding, led by public and private equity market investment group The Eleven Fund, is valued at $240 million, according to a press release. Alleaves works as a complete seed-to-sale system that can be integrated with current systems to provide reporting and business analytics. Allleaves plans to acquire other complementary cannabis technology platforms to expand its customer base and create a "seamless, real-time seed-to-sale software, transaction and compliance platform," according to the press release.

Source: mjbizdaily.com/