Oakville, Ontario-based C15 Solutions, a quality management solutions provider to the cannabis sector and a technology partner of Veeva Systems, has raised financing. No financial terms were disclosed. The investor was Poseidon Investment Management, a cannabis and hemp investor.
TORONTO, Aug. 19, 2021 /PRNewswire/ — C15 Solutions, Inc. (“C15”), the leading global quality management solutions for the cannabis sector and a technology partner of Veeva Systems, Inc. (www.veeva.com), has completed a Class A preferred share equity financing with Poseidon Investment Management (www.poseidon.partners).
C15 is poised to be the dominant global electronic quality management system (eQMS) choice for compliance and risk management systems in the cannabis sector. C15’s eQMS provides mission-critical document (standard operating procedures) controls; compliance and mandated regulatory training; quality event management with enhanced features such as Hazard Analysis Critical Control Point (HACCP) and extended employee, health and safety modules. Poseidon’s investment and partnership with C15 will accelerate their market penetration and product development.
Scott Samuel, Founder and CEO of C15, said “In Poseidon, we have a proven sophisticated institutional investor, who not only understands the complex compliance risks in the cannabis sector but also understands where this sector is headed.”
Poseidon believes that eQMS will play a prevalent role as the global cannabis industry implements pharma-like regulations and protocols within facilities worldwide. Eventually, every facility will require these systems to maintain competitive operational excellence, meeting high certification standards (GMP, FDA, Health Canada, etc).
“In surveying the landscape of eQMS in cannabis, it was clear to us that C15 is the technology leader backed by an incredibly strong management team led by founder and CEO Scott Samuel,” said Michael Boniello of Poseidon. “We’re pleased to partner with Scott and his team and advise them as they build out a robust product offering and penetrate new markets.”
ABOUT C15 SOLUTIONS, INC.
C15 Solutions, Inc. (www.C15Solutions.com) is the technology partner of Veeva Systems, Inc. (“Veeva”) (www.veeva.com). Veeva has the best of breed, quality and document management eQMS cloud solution. Veeva’s customer base consists of more than 650+ global pharma, biotech, consumer goods, chemical and life science companies. C15 installs, deploys the Veeva eQMS solution, specifically configured and supported for the global cannabis sector. C15’s customers include the largest and highest-profile companies in the U.S. and Canadian markets, as well as customers in South Africa; U.K.; Columbia; Australia; New Zealand and Denmark.
ABOUT POSEIDON INVESTMENT MANAGEMENT
Poseidon is a leading investor in the legal cannabis and hemp industries with $200 million in AUM. Active cannabis investors since 2013, the Poseidon team has collectively raised three cannabis-specific funds and deployed capital into over 70 businesses across various stages and verticals globally. For more information, visit www.poseidon.partners.