In Brands, Finance, Professional

Surterra Wellness (Surterra), an Atlanta-based integrated cannabis health company, announced the initial closing of a $100 million Series D funding round. Participants in the round include existing and new investors, ultra-high net worth individuals, and family investment offices, including former Patrón Spirits Company CEO Ed Brown.

WHO: Founded in 2014, Surterra is one of the nation’s fastest-growing health and wellness companies. With vertical operations in FloridaTexasNevada, and Massachusetts, Surterra brings a broad portfolio of high-quality brands to meet the needs of individuals who choose the natural medical relief and wellness-enhancing benefits of cannabis products. Surterra offers a wide variety of medical, health, and wellness products in multiple delivery options, including vaporizer pens, tinctures, oral sprays, topical creams, time-release transdermal patches, and soft gels. The company’s brand portfolio includes: Surterra Wellness, Florida’s Finest, The Apothecary Shoppe, and Coral Reefer.

WHY: Surterra plans to use the proceeds to fund strategic acquisitions and infrastructure capital expenditures.

IN THEIR OWN WORDS: “This significant financing reflects Surterra’s ability to attract a sophisticated, curated investor group who trust our vision, business model and financial track record. The funding will accelerate our expansion as we add new iconic brands, build out our scalable infrastructure, invest in innovation, and fuel our next stage of growth across the U.S. and global markets,” said Surterra Chief Executive Officer William “Beau” Wrigley, Jr.

DETAILS: 

  • Surterra announced the initial closing of a $100 million Series D funding round.
  • Participants in the round include existing and new investors, ultra-high net worth individuals, and family investment offices, including former Patrón Spirits Company CEO Ed Brown.
  • Former Patrón Spirits CEO Ed Brown and co-founder and former CEO of NETA and Mi Kevin Fisher join Surterra Board of Directors.
  • Surterra has raised over $300 million in private capital to date. The Series D funding follows a period of rapid growth for Surterra over the past few months, which has transformed the company into a multi-state cannabis health and wellness business operator with recognizable brands, a revenue-generating business strategy, and meaningful investments in people, science, technology, and innovation.
  • In August 2018, the company closed a $65 million Series C round in July, led by William “Beau” Wrigley, Jr.’s direct investment arm.

Photo: via Surterra

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