Over the past decade, society’s view on pot has drastically changed. The herb has gone from something your grandma might disown you for to something your grandma might take as a substitute for pain medication. Helping to bring this new view on weed into the mainstream is Prøhbtd, a leading cannabis lifestyle media and brand platform. The company, which creates, builds and markets cannabis brands to global audiences, has now raised USD $12 million in funding, $8 million of which was recently secured from a Series A round of investment. This financing follows an initial $4M of seed funding.
The digital media company will use the funding to accelerate the continued production and distribution of its slate of original content, make new key hires, and deepen the expertise and capabilities across the company through strategic acquisitions. Prøhbtd will soon announce its plans for a Canadian public offering that will provide investors with an opportunity to participate in the future growth of the cannabis industry’s leading modern media company.
“We started Prøhbtd to tell cutting edge stories through premium lifestyle cannabis content in a way that no-one else was doing,” said Drake Sutton-Shearer, CEO of Prøhbtd. “We are fortunate to have such an incredible group of investors and advisors so now it’s time to turn up the heat and accelerate our global mission to mainstream cannabis and connect brands to consumers. Game on.”
In addition to the company’s flagship lifestyle destination, www.prohbtd.com, its video content is syndicated across 15 different partner platforms including Apple TV, Roku, Amazon, Android TV, Dailymotion and others, which saw more than 21 million video views in May with an average view through rate of 3:45 minutes, according to the company.
In addition to the PRØHBTD founders Drake Sutton-Shearer (CEO), Josh Otten (CCO) and Kieve Huffman (COO) investors and advisors include Donald Glover, Swedish House Mafia’s Axwell Hedfors, Joel and Benji Madden, Peter Lewit, Steve Shapiro, Joey Houssian, Serruya Private Equity, Delavaco Capital, Cresco Capital, Green Acre Capital, Clarus Securities, Explorer Equity Group, Vector Management Partner Andy Mendelsohn, Advertising Week founders Lance Pillersdorf and Matt Scheckner, Guggenheim Media Managing Director Kraig Fox, Wharton Marketing Professor David Bell, former Tribeca Film Festival and droga5 CEO Andrew Essex, NYC design firm 2X4, Mesh Ventures, former Coca-Cola and MDC Partners executive Craig Binkley, Shevin Law Group founder Eric Shevin, Peter Witting, EPIC Records EVP and CFO Lynn Hazan, 414 Media Advisors, Therapy Studios and Therapy Content, Chris Berman, Format Entertainment CEO Dave Jordan, CAA’s Ryan Harlacher, Executive Producer and former HBO and Televisa executive Michael Garcia, Language Media CEO Ryan Tomlinson and Sheppard Mullin Blockchain and Digital co-team leader Jim Gatto.