Prøhbtd, a startup that CEO Drake Sutton-Shearer stated is designed to “originate a bridge” between the cannabis industry and mainstream tradition, is announcing that it has raised $eight million in Sequence A funding.
It’s no longer the supreme cannabis -centered digital media firm available – as an instance, I wrote in regards to the preliminary funding for Herb closing year. But Sutton-Shearer argued that Prøhbtd is constructing top rate command with a thoroughly different direct.
For one component, he stated Prøhbtd’s isn’t centered solely on cannabis. As a substitute, the aim is to originate a diverse slate of lifestyle- and tradition-associated command, with cannabis as the hook.
Score, as an instance, Edibles, a video series hosted by Birdie Harrelson (niece of Woody Harrelson) — the series involves recipes for constructing cannabis-infused baked goods, but as Sutton-Shearer set it, when every episode opens, “She’s no longer talking about weed, she’s going to bakeries.”
The firm says that its video command (which is on hand on every the Prøhbtd online page and on gadgets devour Apple TV and Roku) noticed 21 million views in May perchance additionally, with an life like see time of three minutes and forty five seconds.
Sutton-Shearer stated certainly one of his priorities is forging “mainstream partnerships” devour Prøhbtd’s kind out Advertising and marketing Week. The firm additionally works with greater than 60 cannabis manufacturers — no longer correct on branded videos and sponsorships, but more broadly on product development, invent and advertising.
Requested whether this creates a potential war with the editorial side of the industry, Sutton-Shearer pointed out that masses of different digital media companies (devour BuzzFeed and Vice) trip their contain branded command studios.
“On the present time’s younger shopper, I don’t ponder they really care that great whether one thing’s branded or no longer,” he stated. “They mark are attempting to know if it’s bright and considerate.”
Prøhbtd had previously raised $Four million in seed funding from investors including actor/musician Donald Glover. The contemporary spherical used to be led by Serruya Non-public Equity, The Delavaco Community and Cresco Capital.
“We’ve considered every media opportunity in the cannabis industry but none of them examine to what the physique of workers at PRØHBTD has built,” stated Serruya Non-public Equity’s Aaron Serruya in the funding announcement. “We quiz giant issues from the firm and we’re inflamed to boost the physique of workers’s world vision.”
Talking of that vision, Sutton-Shearer stated Prøhbtd is exploring world opportunities, including in Canada, Australia and Latin The United States — Truly, the firm says it has plans for a Canadian public providing.
“We’re very strategically taking a explore at the the relaxation of the sector, but there’s calm a lot to be accomplished in the U.S.,” Sutton-Shearer stated.