What is Harborside?
Founded in 2006, Harborside Inc. stands as one of the most venerable cannabis retailers in the United States. Operating under the ticker symbol HBOR on the CSE, the company maintains a robust presence in the San Francisco Bay Area and Southern California, alongside operations in Oregon. Its business model is vertically integrated, encompassing retail, distribution, cultivation, nursery, and manufacturing capabilities. As a pioneer that secured one of the first six medical cannabis licenses in the country, Harborside has been instrumental in normalizing the industry and providing safe, regulated access to consumers. The company's ability to maintain high-quality standards while scaling its physical dispensary network—including unique offerings like drive-thru access—positions it as a bellwether for the broader cannabis retail market.
How much funding has Harborside raised?
Harborside has raised a total of $83.8M across 2 funding rounds:
Series A
$6.5M
Debt
$77.3M
Series A (2018): $6.5M with participation from Quinsam Capital and Cresco Capital Partners
Debt (2022): $77.3M led by Pelorus Equity Group
Key Investors in Harborside
Pelorus Equity Group
A leading provider of commercial real estate loans to the cannabis sector, specializing in flexible acquisition and bridge lending programs for cannabis-related real estate.
Quinsam Capital
A merchant banking firm focused on small-cap companies, providing strategic capital and advisory services to businesses in emerging sectors.
Cresco Capital Partners
A private equity firm dedicated to the cannabis industry, providing growth capital to companies across the supply chain.
What's next for Harborside?
Looking ahead, the infusion of capital is expected to drive Harborside's strategic expansion and operational efficiency. Given the company's status as a publicly listed entity, this funding provides the necessary liquidity to navigate the capital-intensive nature of cannabis cultivation and retail expansion. The focus will likely remain on strengthening its balance sheet and capitalizing on the growing demand for legal, high-quality cannabis products. As the regulatory environment continues to evolve, Harborside is well-positioned to leverage its historical expertise and infrastructure to maintain its competitive edge, potentially exploring further consolidation or technological upgrades to its production facilities to meet shifting consumer preferences.
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