Tiger Global Joins Snoop Dogg’s Fund in Cannabis Software Push
- Casa Verde co-leads $50 million funding round for Metrc
- Product helps industry ‘track-and-trace’ legal cannabis
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Tiger Global Management is joining with Casa Verde Capital -- the marijuana venture fund backed by the rapper Snoop Dogg -- to lead a $50 million funding round for a company that supplies software to the burgeoning legal industry.
The company, Metrc, was launched in 2013 for Colorado’s Marijuana Enforcement Division after the state legalized the sale of recreational weed. The software is now used in 11 states and Washington D.C., letting growers, sellers and regulators “track-and-trace” legal cannabis, according to a statement.