# MainStem

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mainstem

- Industry: Travel & Leisure
- Headquarters: Seattle, US
- Website: www.mainstem.io
- Total disclosed funding: $7.2M
- Latest round: Series C (Aug 30, 2021)
- Investors on record: 2

## About

MainStem, Inc. is a supply chain solution provider for the cannabis industry, delivering a comprehensive B2B procurement software platform that enables efficient management of sourcing and inventory for cannabis operators and suppliers.MainStem, Inc., founded in 2014 and headquartered in Seattle, US, specializes in supply chain solutions for the cannabis sector. The company has undergone pivotal developments in its operational strategies but remains focused on its core mission. Alen Nguyen, the CEO, has been integral to the company's growth. In August 2021, MainStem raised USD 5.00 mn in Series C funding, led by Merida Capital Holdings, bringing the total amount raised to USD 5.00 mn from two deals.MainStem operates a comprehensive B2B procurement platform designed specifically for the cannabis industry. This platform allows users, primarily cannabis operators and suppliers, to efficiently handle their supply chain operations by sourcing, purchasing, and maintaining inventory. The offerings include tools that facilitate seamless transactions between buyers and a wide supplier network, addressing critical needs such as data-driven spend management and regulatory compliance across various markets, including North America and select international regions.MainStem generates revenue through its B2B procurement platform by supporting transactions between cannabis operators and suppliers. The company operates on a subscription-based model, providing clients access to a suite of tools and services for a recurring fee. Partnerships with suppliers further enhance revenue as they list and sell products directly to cannabis operators through the platform, streamlining the purchasing experience and optimizing order management.MainStem, Inc. plans to utilize the USD 5.00 mn raised in Series C funding to enhance its supply chain procurement processes within the cannabis industry. The company is focused on launching new products designed to address emerging needs in the market. Additionally, it aims to expand its services into new geographical regions, targeting specific international markets by the end of 2023, thereby strengthening its position within the cannabis supply chain landscape.

## Funding rounds

- Series C, Aug 30, 2021, $5M — Merida Capital Holdings
- Series B, May 22, 2018, $2.2M — Merida Capital Holdings, Poseidon Asset Management

## Investors

- Merida Capital Holdings (https://capitalatlas.ai/funds/merida-capital-holdings) — Series B, Series C
- Poseidon Asset Management (https://capitalatlas.ai/funds/poseidon-asset-management) — Series B