Two legal powerhouses in the marijuana industry are branching into the software business, hoping to generate profits in a new line of business.
California-based Greenbridge Corporate Counsel and Colorado-based Vicente Sederberg have tapped Denver tech entrepreneur Marion Mariathasan to develop a software package to help cannabis companies and others involved in the industry comply with the law. While dispensary owners and growers have diversified their businesses by getting into consulting, this may be the first time that marijuana-centric law firms have have waded into a new field in the industry.
The new compliance software package is dubbed Simplifya. It will launch in Colorado in July, and in other states after that, according to a press release. The new venture will be bankrolled through a nearly completed Series A fundraising round. Details weren’t disclosed.
The software is cloud-based. It will target stakeholders of all stripes that work – or are involved in – the cannabis trade, including law firms, financial institutions, regulatory agencies, and marijuana businesses themselves.