Cannabis Ecommerce Startup Raises $100M, Clorox Spends $500M on Digital Transformation and Global Industrial Names Alex Tomey CMO
Cannabis Ecommerce Startup Jane Technologies Raises $100M After Stellar Growth
Jane Technologies, the cannabis industry’s first real-time marketplace, announced a $100M Series C financing round. This brings the total amount raised since the company’s founding in 2015 to $130M.
Unlike other startups that are attempting to build a destination marketplace like Amazon, Jane Technologies is building the backends for dispensaries that are taking their cannabis offerings online. The company believes that the future of cannabis is neighborhood dispensaries that sell weed online and Jane Technologies wants to power their digital stores.
“I think we are really seeing the next chapter of what the future of ecommerce will look like,” said Socrates Rosenfeld, co-founder and CEO, “not just in the cannabis industry, perhaps across the world with various retail verticals like alcohol, convenience goods, restaurants and groceries.”
According to Rosenfeld, Jane Technologies saw $100M in total transactional volume in 2019. The company forecasts that it will reach $3.5B in total transactional volume for 2021. Currently, the startup works with 2,100 dispensaries in the United States and Canada.
What stood out to us? Access to a marijuana dispensary in every pocket.
Clorox Will Spend $500M To Speed Up Digital Transformation
The Clorox Co. continues to make ecommerce and digital technology transformation a key corporate priority. In fact, over the next five years, the company will invest $500M to enhance their digital capabilities and drive productivity improvements, including replacing their enterprise resource planning (ERP) system.
Furthermore, the company will spend more money on digital technology for data analytics to better understand online customer behavior. “Prior to the pandemic, we were already adapting our business to differentiate Clorox from a digital perspective,” CEO Linda Rendle said. “We’ll continue to invest in ecommerce and digital marketing across our portfolio, leveraging data-driven insights to engage with consumers in more relevant ways.”
For the 2021 fiscal year ended June 30, ecommerce accounted for about 13% ($954.3M) of the company’s total sales of $7.34B. Overall, Clorox increased sales by 9.2% to $7.34B from $6.72B in fiscal 2020. Net earnings were $719M compared with $939M in fiscal 2020.
What stood out to us? New headline...Pandemic Panic Buying Funds Massive Tech Overhaul.
Global Industrial Names a Retail Veteran as Chief Merchandising Officer
Global Industrial Co. has a new chief merchandising officer fresh from the world of retail. Alex Tomey, most recently the co-chief merchandising officer at Petco Animal Supplies Inc., has been appointed to the company’s newly created position of senior vice president and chief merchandising officer.
“I look forward to leveraging my experience in understanding customer needs, trends and insights to deliver holistic product and go-to-market strategies to build on our current momentum and market position,” said Tomey. We will continue to drive Global Industrial’s category leadership, speed to market, vendor partnerships and seasonal revelvancy.”
Tomey brings more than 20 years of experience in merchandising, product development and sourcing across both hard and soft goods to the position. Previously, he worked as senior vice president of product development and global sourcing at Dick’s Sporting Goods and has held merchandising management positions at Kohl’s and Walmart.
What stood out to us? B2B leveraging B2C best practices? Where have I heard this before?
Before you go...
Banking as a service for consumers could foreshadow B2B payments’ future.
Did you know...
You can’t drink and drive an elephant in Sri Lanka.
Dose data of the week
This is for you
If you’re not getting The Dose sent to your inbox every Saturday, make life easier by subscribing here.
Have a great weekend!