It’s 2019 and marijuana is legal in 10 states (and in our nation’s capital). Recreational dispensaries are on practically every corner in Denver, the epicenter of weed culture in the United States. In addition, the majority of citizens in America have at least tried smoking once during their life. But, dispensaries, cannabis cafes, and weed delivery services are just the surface for a booming sector. The technology industry wants in on the weed bandwagon, too.
This is where CannaRegs steps in. The firm is an online subscription service that provides people from within and adjacent to the marijuana industry with crucial information. So, the service helps retailers, lawyers, and local politicians learn the ins and outs of cannabis rules and regulations.
The company recently announced it completed a $2 million seed round. Its success suggests a big shift in a relatively new sector in the U.S.
What is CannaRegs?
It’s easy to assume that a company named after weed would be run by basement-dwelling stoners. CannaRegs is not that. It’s a professional service for those who actually work within the legal industry.
After subscribing, CannaRegs gives users who are either looking to start or who already exist within the legal industry a hub for all information on marijuana laws, regulations and more.
With all of the media attention and different state laws regarding the legality of weed, it’s hard to keep up. But CannaRegs is there to provide that information for those who need it.
CannaRegs provides transparency about various state marijuana laws, and its database is thoroughly indexed. Therefore, subscribers can access the correct information they need to be successful in a single click.
“We’ve built a terrific set of advanced data services for our CannaRegs subscribers and are proud to be working with the best companies in the cannabis industry,” Founder and CEO Amanda Ostrowitz said in a statement. “With this infusion of capital, we’re confident that we will take RegsTech to the next level.”
A Major Expansion of Services
The Denver-based CannaRegs views the $2 million capital infusion as a major milestone. Subsequently, the company has made plans to launch a similar subscription service for other industries.
With its new capital, CannaRegs is readying a company called Regs Technology. It will offer regulation information services at the hyper-local level. For instance, the company is planning to break into the automotive and transportation industries. Accordingly, a service called TransitRegs is already in the works.
CannaRegs has had an interesting evolution. A service that started in the cannabis industry is now expanding into others and can bring innovation to decades-old businesses. Moreover, the companies success proves that the effort put into a legal marijuana corporation can help shape the future of other unrelated organizations.
A Growing Industry
CannaRegs is just one technology company that has helped entrepreneurs, growers, lawyers, and beyond sink their teeth into everything they need to know to become successful in their trade.
The cannabis industry continues to thrive as more and more states adopt legislature for its legalization. States are now recognizing that the applications of cannabis go far beyond that of a so-called recreational drug. For example, cannabis has specific application as an alternative to highly addictive pain medications. It’s also known to remedy other recurring health issues, such as joint problems, appetite issues, and even has application in pet health. In such a growing industry, platforms such as CannaRegs are welcome additions.