# Backbone Software

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/backbone-software

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.backboneiq.com
- Total disclosed funding: $14M
- Latest round: Seed (Apr 14, 2022)
- Investors on record: 2

## About

Backbone Software, Inc. is a technology company that specializes in providing software solutions for operators in regulated industries, focusing on the cannabis and hemp sectors to optimize supply chain management and compliance.Founded in 2017, Backbone Software, Inc. is headquartered in San Francisco, US. The company focuses on software solutions for regulated industries. Vic Patil, the founder, has a history in tech entrepreneurship. In April 2022, Backbone raised USD 14.000 mn in Seed funding from Nautilus Ventures, with participation from 12/12 Ventures, reaching a total amount raised of USD 14.000 mn.Backbone provides a comprehensive software solution specifically designed for operators in regulated industries, particularly in the cannabis and hemp sectors. Their core offerings include supply chain tracking, compliance management, financial integrations, productivity enhancements, and customization capabilities. The software allows users to visualize and automate their unique supply chain processes, thereby facilitating data-driven decision-making and improving operational efficiency. Backbone’s platform is aimed at helping teams manage compliance through a full lineage chain-of-custody, ensuring they are audit-ready while maintaining high-quality standards. The company serves a diverse client base, including over 100 companies in North America, and the software products are deployed across various geographical markets, including the United States and Canada.Backbone generates revenue primarily through a subscription-based model, wherein clients pay for access to the platform based on their operational needs. This structure allows businesses to customize their engagement with Backbone by selecting specific modules or features tailored to their supply chain management requirements. Transactions typically involve direct B2B relationships, where clients ranging from small operators to larger enterprises utilize Backbone’s software for supply chain optimization, compliance management, and financial tracking. The offerings also include integration with other software and hardware systems, enhancing the overall value proposition for clients. Backbone’s revenue is driven by the adoption and ongoing use of its platform, as well as the potential for upselling additional features to existing clients.Following the Seed funding round in April 2022, Backbone Software, Inc. plans to use the investment to accelerate its expansion into agriculture, hemp, and pharmaceuticals. The company aims to develop new software products tailored to these sectors. Specific geographical expansion plans have not been detailed.

## Funding rounds

- Seed, Apr 14, 2022, $14M — Nautilus Ventures, 12/12 Ventures

## Investors

- Nautilus Ventures (https://capitalatlas.ai/funds/nautilus-ventures) — Seed
- 12/12 Ventures (https://capitalatlas.ai/funds/12-12-ventures) — Seed