About Verano
Verano is a company based in Chicago (United States) founded in 1996 by George Archos was acquired by Harvest Health & Recreation in March 2019.. Verano has raised $120 million across 3 funding rounds from investors including Canaccord Genuity Group, Scythian Biosciences and Beacon Securities. The company has 3,800 employees as of December 31, 2024. Verano has completed 12 acquisitions, including 3 Boys Farm, AltMed and CTPharma. Verano offers products and services including Verano Bits, Savvy, Encore Edibles, Avexia, and MÜV. Verano operates in a competitive market with competitors including AWH, Jushi Holdings, Tilray, Curaleaf and Glass House Brands, among others.
- Headquarter Chicago, United States
- Employees 3800 as on 31 Dec, 2024
- Founders George Archos
- Stage Public
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Sectors
Consumer
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Verano Holdings Corp. Class A
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Annual Revenue
$834.03 M (USD)-4.97as on Dec 31, 2024
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Net Profit
$-325.5 M (USD)-195.7as on Dec 31, 2024
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EBITDA
$229.8 M (USD)-16.93as on Dec 31, 2024
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Total Equity Funding
$120 M (USD)
in 3 rounds
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Latest Funding Round
$79.09 M (USD), Post-IPO
Mar 11, 2021
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Investors
Canaccord Genuity Group
& 4 more
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Employee Count
3800
as on Dec 31, 2024
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Investments & Acquisitions
3 Boys Farm
& 11 more
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Acquired by
Harvest Health & Recreation
(Mar 11, 2019)
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IPO & Listings of Verano
Verano is a publicly listed company on the NEO with ticker symbol VRNO in Canada, operating in the Process industries sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Verano
Verano offers a comprehensive portfolio of products and services, including Verano Bits, Savvy, Encore Edibles, Avexia, and MÜV. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Adaptogen-boosted cannabis edibles for everyday enhancement
High-quality cannabis flower and mindset-driven vapes
Cannabis gummies and candies for indulgent experiences
THC and CBD products for self-care and healing
Science-backed cannabis items like topicals and inhalers
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Finance and Accounting
22 people
Leadership Team
21 people
Software Development Team
17 people
Human Resources and Administration
15 people
Sales and Marketing
10 people
Legal and Compliance
9 people
Operations Team
8 people
General Team
6 people
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Funding Insights of Verano
Verano has successfully raised a total of $120M across 3 strategic funding rounds. The most recent funding activity was a Post-IPO round of $79.09 million completed in March 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Post-IPO — $79.1M
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First Round
First Round
(31 Oct 2018)
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2021 | Amount | Post-IPO - Verano | Valuation |
investors |
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| Jul, 2020 | Amount | Debt – Conventional - Verano | Valuation |
investors |
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| Oct, 2018 | Amount | Series C - Verano | Valuation | Serruya Private Equity , Scythian Biosciences |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Verano
Verano has secured backing from 5 investors, including institutional and venture fund investors. Prominent investors backing the company include Canaccord Genuity Group, Scythian Biosciences and Beacon Securities. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Investments in consumer brands are managed by Serruya Private Equity.
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Founded Year | Domain | Location | |
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An independent global investment bank serving emerging and mid-market clients.
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Founded Year | Domain | Location | |
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Merger and acquisitions advisory firm
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Verano
Verano has strategically engaged in corporate development activities, having acquired 12 companies. Notable acquisitions include 3 Boys Farm, AltMed and CTPharma. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Retailer of cannabis products
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2021 | ||||
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An e-commerce platform for cannabis products is operated.
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2019 | ||||
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Medical cannabis products are retailed in Meriden, United States.
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2019 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Verano
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Verano Comparisons
Competitors of Verano
Verano operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as AWH, Jushi Holdings, Tilray, Curaleaf and Glass House Brands, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cannabis plants and products services are provided by AWH.
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| domain | founded_year | HQ Location |
Distributor of cannabis based products
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| domain | founded_year | HQ Location |
Online e-distributor offering cannabis products for medical purposes
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| domain | founded_year | HQ Location |
Cannabis products are retailed through dispensaries in the United States.
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| domain | founded_year | HQ Location |
Cannabis flowers, healthcare products, and related items are offered.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Verano
Frequently Asked Questions about Verano
When was Verano founded?
Verano was founded in 1996 and raised its 1st funding round 22 years after it was founded.
Where is Verano located?
Verano is headquartered in Chicago, United States. It is registered at Chicago, Illinois, United States.
Who is the current CEO of Verano?
George Archos is the current CEO of Verano. They have also founded this company.
Is Verano a funded company?
Verano is a funded company, having raised a total of $120M across 3 funding rounds to date. The company's 1st funding round was a Series C of $120M, raised on Oct 31, 2018.
How many employees does Verano have?
As of Dec 31, 2024, the latest employee count at Verano is 3,800.
What is the annual revenue of Verano?
Annual revenue of Verano is $834.03M as on Dec 31, 2024.
What does Verano do?
Verano was founded in 1996 in Chicago, United States, within the cannabis sector. Products for medical and adult use are developed, encompassing pre-rolls, vapes, and concentrates under the Verano brand; balms and lotions under Alexia; gummies, candies, mints, and chocolates under Encore; and natural medications under MUV. Cultivation and manufacturing facilities are operated to support these activities.
Who are the top competitors of Verano?
Verano's top competitors include Tilray, AWH and Jushi Holdings.
What products or services does Verano offer?
Verano offers Verano Bits, Savvy, Encore Edibles, Avexia, and MÜV.
Is Verano publicly traded?
Yes, Verano is publicly traded on NEO under the ticker symbol VRNO.
How many acquisitions has Verano made?
Verano has made 12 acquisitions, including 3 Boys Farm, AltMed, and CTPharma.
Who are Verano's investors?
Verano has 5 investors. Key investors include Canaccord Genuity Group, Scythian Biosciences, Beacon Securities, Serruya Private Equity, and Harvest Health & Recreation.
What is Verano's ticker symbol?
The ticker symbol of Verano is VRNO on NEO.
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