TORONTO, ON and LOS ANGELES, CA – Aug. 29, 2017 – Joe Montana is one of the latest spate of celebrities investing their names and their money into the cannabis industry. Along with his company Liquid 2 Ventures, a group of venture capitalists has invested $4.1 million in seed funding into HERB, one of the world’s largest cannabis-focused media companies.
The round was led by Lerer Hippeau Ventures with participation from Slow Ventures, Michael Lazerow, Bullpen Capital, Shiva Rajarama, Liquid 2 Ventures, Tobi Lutke, Harley Finkelstein, and Adam Zeplain.
Established in 2016, HERB claims to have the most engaged cannabis community in the world. HERB.co offers visitors lifestyle content, entertainment, news, and information. HERB’s data-driven directory helps visitors find the best strain for their medical conditions and locate dispensaries and retail outlets.
“During our research into the cannabis industry, it became clear to both myself and our team at Liquid 2 Ventures that HERB was the most professionally run business for relevant, informative cannabis content. With the trend quickly leaning toward national or even global legalization, we think it will be imperative that there is a reliable source of educational content, which will ensure that cannabis consumers are well-informed about the benefits as well as the risks of using the plant.” - Joe Montana, hall of fame quarterback and investor in HERB
Since April 2017, HERB’s reach has experienced 30% growth month-over-month, hitting new heights of 5.3 million unique viewers per month - a figure which rivals some of the top mainstream publications. HERB also boasts 8.7 million Facebook likes and 600,000 Instagram followers.
HERB’s video-hungry audience has rapidly swelled as of late with more than 200 million video views per month (30% growth month-over-month). Earlier this summer, HERB announced the launch of its new weekly video series, Smoke Sessions. Upon launch, the series went viral in a matter of 48 hours, receiving over six million views.
In the coming months, HERB will host a launch event to unveil the features of the new technology platform.
HERB’s stated mission is to educate, influence, and represent the cannabis community at large.
This seed funding will be invested in the launch of HERB’s new technology platform, the growth of their video studios, key new hires, and two new office locations in Los Angeles and New York.
Source: Company press release