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As the legal cannabis industry grows in the U.S., competition for customers is heating up. Now, a startup called\u00a0Baker Technologies<\/a>\u00a0has raised $3.5 million to become a \u201cSalesforce for pot.\u201d<\/p>\n The company\u2019s\u00a0software helps\u00a0marijuana dispensaries bring in new customers and inspire customer loyalty, without running afoul of ever-shifting regulations that govern precisely how these shops\u00a0can market and sell their goods.<\/p>\n Baker CEO and co-founder Joel Milton said that today, the company works with 250 dispensaries in 10 U.S. states where pot\u00a0is legal, as well as\u00a0in Canada. Twenty-eight states allow cannabis to be sold and used legally now, Milton noted, but with varying levels of restriction.\u00a0In places where only medical use is allowed, and in very limited ways, dispensaries haven\u2019t cropped up to serve a general population of adults and tourists. So Baker hasn\u2019t (yet) entered those markets.<\/p>\n In recent press interviews<\/a>, and at his confirmation hearing, Attorney General Jeff Sessions\u00a0made statements against the legalization of marijuana. That has left some cannabis and pot-tech businesses worried. But pot\u2019s acceptance is growing<\/a>. And positive economic contributions are one reason investors and industry insiders\u00a0don\u2019t expect\u00a0the industry to be suddenly\u00a0curtailed, Milton says.<\/p>\n Last year, According to reports by Arcview \u00a0Market Research<\/a>, the legal market for pot generated $6.7 billion\u00a0in sales in North America. According to forecasts from New Frontier Data<\/a>, if all U.S. states that currently allow legal sales of cannabis continue on their projected growth rates, they should generate some $2.3 billion in state tax revenue just from retail sales by 2020.<\/p>\n Investors in the new round include Michael Lazerow, Base Ventures, XG Ventures, Poseidon Asset Management, Phyto Partners, the founders of Outside Lands, and several\u00a0other angel investors. As we previously\u00a0reported<\/a>, Baker raised $1.6 million in seed funding and graduated from the 500 Startups accelerator.<\/p>\n <\/p>\n Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/sfWJANAgUF8\/<\/p>","protected":false},"excerpt":{"rendered":" As the legal cannabis industry grows in the U.S., competition for customers is heating up. Now, a startup called\u00a0Baker Technologies\u00a0has raised $3.5 million to become a \u201cSalesforce for pot.\u201d The <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-4085","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t