Seattle startup raises cash for cannabis industry software – GeekWire
S2solutions just closed a $1 million investment round for software that supports Washington state’s booming cannabis industry.
The cash came from private investors and the company founders. S2solutions plans to use the funds to scale its team and build out its product.
“We believe that our end product comes above all else,” said S2solutions COO Chase Towery. “We believe that if we build the rest of our company around this core concept with everything we do in support of our product, then our product will continue to speak for itself.”
The Seattle startup is currently focused on serving the cannabis industry in Washington state but plans to expand nationally down the line. S2solutions serves two of the five largest marijuana processors in Washington, including the largest producer, Northwest Cannabis Solutions.
S2solutions’ chief competitor is Biotrackthc, which holds the Washinton state contract for its cannabis traceability system. Towery believes there’s room for improvement, despite Biotracktch’s lead.
“Biotrackthc is a full seed-sale traceability solution, but has process flaws that lead to significant bottlenecks in the overall process for end users,” he said. “S2solutions’ initial offering integrates directly with the state’s traceability system and focuses on alleviating these pains specifically in the sales, order fulfillment, and logistics departments.”
S2solutions currently employs 12 out of its Seattle office. The startup is planning to raise a Series B round in late 2017.