Herb Secures $4.1 Million to Grow

Toronto-based cannabis media and tech company, Herb, lands $4.1 million funding with the help of Lerer Hippeau Ventures. Additional funding support was received by Slow Ventures, Liquid 2 Ventures, and Shopify’s CEO Tobi Lutke and COO Harley Finkelstein, to name a few.

Herb is one of the most popular online cannabis news providers with over 200 million video views, nine million Facebook likes and over four million unique website visitors a month. This funding will assist with the development of new digital platform and an app that will launch later this year..

“By 2020 cannabis will be worth $23.1 billion. When I looked at the data and looked at the trends, it seemed there was no better use of my time then to start an impactful business in the cannabis industry. This industry is blowing up,” said Matt Gray, founder and CEO of Herb.

“We have the largest focus group of cannabis consumers in the world,” explained Gray. “Millions use Herb every month, and all that data can be used to help people around the world make smarter decisions around cannabis.”

Herb joins a list of cannabis media platforms and news providers that are landing large sums of VC money to expand in their content and reach. High Times recently sold for $42 million, Civilized secured over a $1 million and Cheddar recently reported securing an additional $32 million.

Seems to be a good time to be in media.

Cynthia Salarizadeh

Cynthia SalarizadehCynthia Salarizadeh

Founder and CEO of AxisWire, Founder and President of the luxury cannabis brand the House of Saka, Co-founder of Green Market Media & Industry Power Women. Cynthia is a contributing writer for Entrepreneur and Forbes. She sits on the Forbes Communications Council and holds a degree from the University of Pennsylvania and a certificate in journalism from Georgetown University.


Leave a Reply

Your email address will not be published. Required fields are marked *

Get the latest news delivered straight to your inbox!

Join our mailing list to receive the latest news and updates from the Green Market Report.

Upon joining you will be asked to confirm your email address.


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 3 days

RT : The State of Cannabis SPACs was recorded on April 13, 2021. If you want to learn everything about SPACs in the cannabis i…

Back to Top