Meteoric Rise Of A Cannabis Company Or The Story Of Four Guys Who Love Weed

Amid the general volatility in the Massachusetts cannabis industry, Fernway's story is one of success and expansion. Fernway’s CFO and co-founder David Van Vlierbergen, who attended the recent Benzinga Cannabis Capital Conference in Miami, later shared the company’s unique story.

Founded by four friends who were working in four different fields but who all loved cannabis got together and made some magic.

"We had a strong founding team with a diversity of skill sets that had two-and-a-half years to strategize and plan before we generated our first dollar of revenue. We founded the company in October 2018 but didn’t start sales until February 2021," Van Vlierbergen told Benzinga. "From the early days, we always strived to create a brand that spoke to Massachusetts cannabis budtenders and consumers. Our growth has been deliberate, dynamic and profitable."

Fernway’s Growth Has Also Been Meteoric

Over the three years it took to start the business and for all the founders to move to Western Massachusetts, Fernway quickly became the number one vape company in the state and one of the top 5 cannabis brands to watch nationwide, according to market research provider BDSA. 

Case in point: Fernway’s revenue grew from $10 million in 2021 to $21 million in 2022. How?  Again, kind of meteoric. They started with 6 original 510 thread cartridges and expanded to 40+ SKU’s across three unique product lines, as well as a new hardware format that included their recyclable all-in-one Traveler. 

But there were crises along the way, starting with the national vaping crisis that threw a wrench into the works.

"The vaping crisis certainly impacted us, but vapes are just one of the three products we offer. We sell top-shelf buds and pre-rolled joints as well. We work closely with our partners to design the most innovative products with the lowest failure rates in the industry," Van Vlierbergen said.

Fernway CFO and co-founder David Van Vlierbergen

A Move Toward Cannabis

Indeed, in late March of this year, Fernway announced it was expanding into cannabis flower and would be manufacturing and selling terpene-infused joints, which certainly bodes well for the future as they intend to break into neighboring states.

“We have only operated in Massachusetts for our first 4-and-a-half years of operation, and now we have developed a playbook that we are going to execute in New Jersey and New York over the next 2 years here,” the Fernway CFO said. “We have a lot of new products and marketing collaborations we will be announcing soon that will continue to celebrate how cannabis makes the good life even better."

For those who prefer smoking over vaping, he noted, this is a much-anticipated addition for cannabis consumers as Fernway is the only company in Massachusetts using reusable ceramic tips on joints, which create a premium approach to the joint form factor. 

Speaking of ceramic tips, Fernway also announced last year that their full line of vapes is recyclable as part of the company’s recycling program.

Fernway's offerings (Courtesy photo)

Next Project? Let's All Get Legal

"We are going to be advocating that the federal government creates a task force on researching cannabis and explores the creation of a national medical cannabis and 21+ adult-use cannabis regulatory framework that achieves equity, safety, quality standards, economic development and consumer enjoyment,” Van Vlierbergen explained. “Fernway has a durable business model that leverages many supply chain partners and can prosper under status quo or a new federal regulatory regime."

L to R: Fernway cofounders: David Van Vlierbergen, CFO; Kit Gallant, CEO; Liam O’Brien, CMO; Kevin Wu, COO.