Nabis, Leading Cannabis Wholesale Marketplace and Distributor, Announces Record 2021 Growth
With expansion plans scheduled for 2022, Nabis has boosted distribution capacity by nearly 300% year over year.
California’s leading wholesale cannabis marketplace and distributor Nabis announced today record growth for 2021 along with plans for 2022.
The firm, which raised a $23 million Series B investment and also took home an additional $5.5 million in stock financing, reported a sales increase of 40% increase in sales, employee headcount doubled and distribution capacity increased almost 300% compared vs. the previous Q4 2020.
Nabis also announced a $5 million credit line for capital equipment purchases to expand into new distribution facilities in 2022, with industry-leading hardware at a far cheaper cost of capital, bringing Nabis’ total financing to $44M to date.
Nabis is the most well-known and effective licensed cannabis wholesaling platform in California, working with over 150 brand names and supplying all dispensaries across the state with top-tier items.
Nabis provides lightning-fast fulfillment, warehousing, payment processing, financing, data analytics, and sales and marketing services to help more companies innovate, launch, and scale.
Nabis is a company that was founded in 2018 by software engineers Vince C. Ning and Jun S. Lee, with the goal of enabling brand-to-store wholesale transactions for cannabis. Nabis collaborates with its partners to simplify the legal cannabis wholesaling process by using actionable sales data and insights to assist companies and retailers scale successfully.
A growth platform that seamlessly connects brands with merchants and provides businesses financing and data analytics insights to assist sales strategy, Nabis Marketplace, Nabis Capital, and Nabis Analytics have a 91% adoption rate among clients.
Nabis added over 100% more delivery capacity in 2021, and it was the first wholesale marketplace to invest considerably in its delivery fleet, acquiring semi trucks for a distribution turnaround of 36 hours.
Nabis 2022 Expansion Plans
Nabis announced plans to establish its third distribution center in Woodlake, California, this summer. The facility is designed to be highly energy-efficient and will more than double Nabis’ storage capacity to sustain the expanding sector as a whole.
Vince Ning, Nabis Co-CEO and Co-Founder commented on the plans, “Our vision is to become a national wholesaling platform that helps our partners launch and scale rapidly. Reflecting on 2021, Nabis grew quickly and strategically, and we owe our success to employees and partners. We’re on track to more than double our market share of cannabis distribution in California in 2022.”