Lantern Reports 350% Growth in 2021, Expands Partners in Massachusetts
BOSTON, Jan. 13, 2022 /PRNewswire/ -- Lantern, among the leading on-demand cannabis e-commerce marketplace and home delivery platforms in the U.S., today announced its financial and operational results for fiscal year 2021, ending 12/31/21.
Lantern experienced 350% year-over-year growth following the expansion of its on-demand marketplace delivery platform into Colorado and Michigan, two of the fastest-growing cannabis delivery markets in the U.S. Additionally in July 2021, Lantern became the first adult-use delivery platform to launch in Massachusetts and serve the Greater Boston area.
Since then, the company has secured partnerships with numerous local dispensaries and couriers, including Sanctuary, Cultivate, Freshly Baked, NETA, Garden Remedies, Insa, and Theory Wellness. In Michigan, where Lantern was first-to-market in both Detroit and Grand Rapids, the company has partnered with leading dispensaries such as High Profile, and Joyology over the past year.
"Lantern's record year of growth is a bellwether for the enormous potential of the cannabis delivery market ?especially considering how consumer adoption of delivery services increased by 25% throughout the country," said Meredith Mahoney, Co-Founder and CEO of Lantern. "Our team is eager to leverage our current momentum and foster deeper relationships with additional local partners to bring accessible and personalized cannabis retail experiences to an ever wider audience in the upcoming year."
In October 2021, Lantern officially transitioned to a separate corporate entity and received $40 million in capital from its former sister company, Drizly Group ?the largest on-demand alcohol marketplace in the United States?after Uber finalized its acquisition of Drizly.
About Lantern
Lantern is among the leading cannabis e-commerce marketplace and delivery platforms in the U.S. With the speed and convenience of on-demand delivery, Lantern partners with the best local dispensaries and cannabis brands to bring transparency, safety, and access to cannabis for both new and experienced consumers through intuitive, personalized shopping experiences. Lantern's best-in-class expertise in regulated industries helps dispensaries operationalize on-demand delivery, helping them to reach new customers, tap into key consumer insights, and diversify their businesses to grow sales. Lantern was incubated out of Drizly Group, the most popular and reliable online alcohol delivery platform in North America.
Media Contact
Noah Bethke
MATTIO Communications
[email protected]
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