Startup company, Caliva, based in San Jose, announced a $75 million round of investment. Many participated in this investment, including former CEO at AutoDesk Inc. and Yahoo Inc., Carol Bartz (who will also be serving on Caliva’s Board of Directors, and famous footballer, Joe Montana. This investment opens Caliva to many opportunities.
Caliva will use this investment to grow their product line and expand the number of customers that purchase cannabis-related products from Caliva. They will also use the investment to expand wholesale distribution through direct-to-consumer channels.
Caliva’s Growing Business
The company has many different products available on their website, such as branded flowers, vaporizer products, and pre-rolls that all rank among the top of best selling products in this market for the state of California. With the new investments, along with the expansion of their product line, the company also plans to ramp up its efforts to court cannabis users in California through direct-to-consumer sales.
Caliva offers many products to their customers. The company is vertically integrated and fully licensed to serve a wide range of consumers, including retailers and distributors.
Caliva has a goal to expand their business and build the most trusted brand in the cannabis industry. The CEO of Caliva, Dennis O’Malley said in a press release, “We are laser-focused on our strategy to build the most trusted brand in cannabis. With our best selling product portfolio, our large scale vertical integration, and our award-winning distribution channels we are confident we can maintain our growth rates in California in 2019”.
Even though many state regulations slowed the cannabis market over the last year, Caliva grew its revenue by 350 percent while growing its company to 440 workers. Joe Montana said in a press release, “As an investor and supporter, it is my opinion that Caliva’s strong management team will successfully develop and bring to market quality health and wellness products that can provide relief to many people and can make a serious impact on opioid use or addiction”.
More About Caliva
Caliva, one of the most trusted brands in cannabis, focuses on wellness options that work with an individual’s lifestyle. Their products help to motivate the mind, steady the body, and inspire creativity. Each of the cannabis strains that Caliva grows is selected for its effects, purity, and premier genetics, and is tested in Caliva Labs to ensure the best quality possible for consumers. The company currently employs more than 400 at its dispensary in San Jose and its Brisbane distribution center.
Caliva has jumped to the top in the legal cannabis industry since it was first launched in 2015. Initially, the company was an all-in-one cannabis dispensary and marketplace with growing facilities and delivery systems in place.
Caliva’s CEO Dennis O’Malley, previously co-founded and led ReadyPulse Inc., a San Carlos company that is venture-backed and includes a marketing platform used by brands that include Twitter, Nike, Adidas, The North Face, Reebok, and Red Bull. O’Malley says that Caliva will use its new funding to grow its product portfolio.
The company currently carries products ranging from vapes, pre-rolls, wellness products and edibles.
Their refined line of cannabis products is made to be easy to use, fun and consistent so that “you know how you’ll feel, every time”, as stated on the website. The cannabis products can be purchased as singles or wholesale. They include hybrid, sativa, and indica strains so that consumers are aware of what they are buying. The THC levels are listed beside the product for transparency, which builds high levels of trust between the company and its consumers.
Legal Recreational Use of Marijuana
With several states in the United States legalizing marijuana, many marijuana related industries are on the rise. In 2012, Colorado and Washington became the first states to legalize marijuana for recreational use. Illinois could also be on the path to legalize marijuana now that J.B. Pritzker is governor. However, until businesses are licensed and legalized, there will be no use of recreational marijuana anywhere.
The discussion of legalizing marijuana is rising in importance, with many individuals agreeing that the use of recreational marijuana should be legalized, while others vehemently oppose it. People who back legalization say it will help fund many programs, including substance abuse education and treatment as well as support of poor communities that are heavily affected by violence.