Nabis Reports Steady YoY Growth, Becomes No. 1 Licensed Cannabis Wholesale Platform in California
SAN FRANCISCO--(BUSINESS WIRE)--Nabis, the leading licensed cannabis wholesale platform in the world’s largest legal cannabis market, today announced that it offers the widest selection of products from nearly 200 exclusive top-tier brands to California’s entire network of state-licensed dispensaries and delivery services. Since its inception in 2018, the company, which currently represents approximately 15% market share of the state’s total cannabis sales, has surpassed $1 billion in completed end-to-end transactions by providing the highest-quality product fulfillment and payment processing services in the industry.
“Nabis’ growth comes from the phenomenal work our team does, as well as the ongoing support from our partners,” said Jun S. Lee, Co-CEO and Co-Founder of Nabis. “It’s a testament to the comprehensive set of software tools and infrastructural support we created for California’s supply chain to streamline wholesaling operations and further promote efficient brand scaling.”
Nabis’ end-to-end services, including its Marketplace, rapid 2-day shipping, flexible financing and sophisticated data analytics, have played a key role in the company's maturation. In the last year alone, Nabis has nearly doubled its monthly average number of orders and has experienced steady growth in brand partners (56%) and retailers (34%) joining the platform.
Last month, Nabis also experienced a 53% increase in order volume in the two weeks leading up to the 4/20 holiday–reflecting customer demand for the brands supported by Nabis’ swift and reliable services.
“Jun and I founded Nabis with the goal for it to be the most scalable and accessible platform in the industry, and to create equal opportunity for brands and retailers of all sizes as well as their strategies,” said Vince Ning, Co-CEO and Co-Founder of Nabis. “We’re elated to continue supporting so many businesses, but as the landscape continues to shift and the market heads into a tumultuous period, our priority is now on maintaining a stable infrastructural platform for the entire California cannabis supply chain.”
With its dedication to providing the most agnostic platform, Nabis is transforming the traditional wholesale model by eliminating expensive infrastructure and allowing businesses to easily scale, remain hyper-focused on their craft and retain control over their own story. Notably, the top 25 brands that have been with Nabis for at least two years have grown about 50% on average year over year.
Companies recognize the value of Nabis’ premier suite of services, resulting in partnerships with Raw Garden, Wonderbrett, Alpine Vapor, Pacific Reserve, Apex Cannabis, Euphoric Life, Higgs, K-Zen and Santa Cruz Veterans Alliance.
To also provide additional support to its workforce, Nabis has raised compensation standards with equity alignment and grants for hundreds of team members, including hourly associates.
For more information on Nabis’ platform and services, please visit nabis.com.
Nabis is the #1 licensed cannabis wholesaling platform in California, supporting nearly 200 exclusive brands and supplying the entire network of state-licensed dispensaries with top-tier products. Nabis offers clients lightning-fast fulfillment, warehousing, payment processing, financing, data analytics, sales and marketing services to enable more brands and retailers to innovate, launch and scale. Founded in 2018 by serial tech entrepreneurs Vince C. Ning and Jun S. Lee, Nabis is fueled by cutting-edge technology designed to support cannabis wholesaling between brands and retailers. Nabis works directly with its partners to streamline the regulated cannabis wholesaling process by leveraging actionable, industry-leading sales data and insights to help brands and retailers scale strategically. Learn more: nabis.com