Steep Hill Closes $2 Million Investment Round
BERKELEY, Calif., May 11, 2017 /PRNewswire/ — Jmichaele Keller, President and CEO of Steep Hill, the global leader in cannabis science, testing and analytics, announced today that Steep Hill closed a $2 million private investment round, allowing the company to scale up to meet the demands of its rapidly growing global footprint.
In making the announcement, Keller said, “It is an exciting time to be at Steep Hill. It is clear the products and services that we offer the market in cannabis testing, analytics and genetics, are in great demand in new regulatory markets, and smart investors recognize this fact. We are pleased to note that one investor who comes out of a traditional money manager role on Wall Street invested $1M of his personal funds into the round. The more he learned, he added an additional $500,000, and closed the round. The opportunity to add key personnel to meet to explosive demand for the Steep Hill brand throughout the United States and Internationally were key motivators in closing the round. Since the beginning of this year the size of the company has grown over 30% with the addition of 10 new positions thus far. Strategic new positions include a Licensee Manager to manage the explosive growth of our licensed labs and joint ventures, along with a Director of Quality Assurance and a Customer Experience Director. Expansions to the software development team include a QA Manager, UI/UX Designer and another Software Engineer bringing the development team to 11 in total. We could easily see the size of Steep Hill double by the end of this year.”
For more information about Steep Hill visit: www.steephill.com
ABOUT STEEP HILL
Steep Hill Labs, Inc. is the world’s leading cannabis science and technology company with significant footprints in lab testing, research and development, licensing, genetics and remote testing. No other company brings all of these sectors into one highly synergistic whole. Steep Hill’s foundation was built on testing and analyzing medical and recreational marijuana to ensure compliance with public safety standards. In 2008, Steep Hill opened the first commercial cannabis lab in the United States and has been on the cutting edge since its inception. Steep Hill is expanding throughout the United States, and globally. With the goal of helping the rest of the world adopt “best practices” in cannabis testing, the company also provides expert consulting services to legislators and regulators in many countries, states and municipalities around the world.