Betting On California: Caliva Raises $75M To Invest In Largest Global Cannabis Market
California’s most trusted cannabis brand builds war chest to fund production and expansion with investments from California legends Carol Bartz and Joe Montana
SAN JOSE, Calif., Jan. 24, 2019 /PRNewswire/ — Caliva, one of the largest vertically integrated cannabis companies in California, has closed its first round of funding at an over-subscribed amount of $75M.
Carol Bartz, former CEO of Yahoo and Autodesk and former Cisco Board Member, along with three time Super Bowl MVP and Football Hall of Famer Joe Montana both participated in Caliva’s initial round of funding. Ms. Bartz will serve on Caliva’s Board of Directors.
Caliva will be utilizing the investment to grow its product portfolio and expand its reach to California consumers through its own branded retail stores, expanded wholesale distribution and through direct-to-consumer channels.
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.
Dennis O’Malley, CEO of Caliva
Caliva has quickly become a market leader in cannabis consumer products in California, which represents more than 35 percent of the overall United States legal cannabis market. While California’s cannabis economy shrunk by 17 percent year over year due to expanding regulations, Caliva grew its revenues by 350 percent. The company now employs over 420 workers and has two current operating locations in the Bay Area.
I know great opportunities when I see them. I believe that Caliva will be the first true large scale consumer product company in the US cannabis industry.
Carol Bartz
According to Headset, the leader in cannabis business intelligence, Caliva’s branded flower, pre-roll, and vaporizer products continue to rank in the Top 10 best seller lists for the state of California.
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 opioids use or addiction.
NFL Hall of Famer Joe Montana
About Caliva
Caliva is the market leader in California for branded cannabis products. With it’s best in class facility in San Jose, Caliva produces top quality flower and cannabis oil, manufacturers products and distributes them throughout the state. Caliva branded products can be found at their flagship dispensary in San Jose, dispensaries throughout the state of California, purchased online at Eaze.com or www.caliva.com/menu.
To learn more about Caliva, visit www.gocaliva.com.
