Funds for Cannabis Data Firm Headset
May 6 2021
US-based cannabis industry data and analytics provider Headset has raised $1.825m, which it will use to expand into new markets and support new opportunities across the cannabis industry.
Headset collects and analyzes consumer transaction information to help cannabis retailers better optimize their day-to-day operations; and receipt-level sales data to enable product manufacturers, processors and distributors to identify trends and collaborate with retail customers. In 2019 the firm partnered with Nielsen to deliver insights to CPG manufacturers, and the partnership was then extended to the Canadian market through an alliance with management consultancy Deloitte.
New funding has been led by Silverleaf Venture Partners, with participation from WGD Capital, a cannabis-focused venture fund, and Poseidon, an investor in the legal cannabis and hemp industries. Headset will use part of the funds to expand into legal markets. Cy Scott (pictured), CEO and co-founder of Headset, comments: ‘The cannabis industry continues to expand at a significant rate, with new markets legalizing faster than ever before. With this new round of capital, Headset can better support these emerging markets while continuing to deliver the innovative analytics Headset is known for’.
Web set: www.headset.io .
All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.