Eaze is a cannabis delivery service in California. Using the company app, customers can order online from a choice of high-quality, lab-tested products, and then track the progress from the local dispensary to their homes. Eaze has become the largest such company in the country, growing with the help of $13-million of venture capital investment late last fall. We recently caught up with founder Keith McCarty by e-mail. Here are his thoughts on the company's growth potential in the era of greatly expanding medical and recreational cannabis markets.
What’s the size of the current market?
California is the largest cannabis market in the US, estimated at roughly half. Eaze has hundreds of thousands of patients in across nearly 100 cities in California.
Will it continue to grow as more regulations are introduced?
Absolutely. As a technology company, Eaze can scale rapidly and be agile to changing regulations. But what really sets Eaze apart is our commitment to the patient experience. Before expanding into new territories, we make sure we’re working with state regulators, local government and dispensaries to ensure the highest level of professionalism, safety, and quality for consumers.
How big could the company become?
Eaze’s long-term goal is to be everywhere cannabis delivery is legal.
What inspired your current round of investors to get involved?
Traditionally, cannabis companies were a non starter for [venture capital firms]. Even three years ago there was a huge stigma. From day one though, Eaze has been able to approach [these investment firms] with a background that is familiar to them. Given my tech background and proven track record scaling Yammer and because Eaze is a technology company, we were able to help VCs understand the huge business opportunity there was in this. Investors who were progressive enough to invest at Eaze’s initial stage were actually able to grow with us into Series B.
As public sentiment shifts, and Eaze continues to prove out the legitimate business opportunity there is in cannabis, we're starting to see VCs who turned us away, proactively approach us.
What markets would you like to expand to?
Eventually, Eaze’s goal is to be everywhere cannabis delivery is legal.
What further innovations do you have planned for Eaze?
With our latest financing round, Eaze plans to continue to enhance the patient experience, accelerate product innovation, grow our team, and make Eaze available in more markets. One thing we’re especially excited about is using the funding to expand our Brand Insights Program, a first of its kind initiative that provides consumer feedback to brands in an effort to better understand their users and how to improve their products.
Do you plan to serve the recreational market now that Prop 64 has passed?
Our shorter-term goal is to be available in all of California. With adult use being legal in the state, Eaze is working with partnering dispensaries to secure licensing to service the larger market. Again though, as a technology company, Eaze can scale rapidly and be agile to changing regulations. But what really sets Eaze apart is our commitment to the patient experience. Before expanding into new territories, we make sure we’re working with state regulators, local government & dispensaries to ensure the highest level of professionalism, safety, and quality for consumers.