BOULDER, CO / ACCESSWIRE / August 21, 2019 / 7thirty co-led a $10 million financing in BDS Analytics, the leader in comprehensive, actionable, and accurate cannabis market intelligence and consumer research. BDSA announced the first close of $7 million in the ongoing Series C capital raise. This is 7thirty's second investment in BDS Analytics, showing continued support for an industry leader with exceptional growth. Micah Tapman, 7thirty's managing partner, will continue to serve on the BDSA Board of Directors and as the company's Chairman. The round was co-led by KEY Investment Partners and Altitude Investment Management with participation from other investors.
BDS Analytics will use the capital to expand coverage of emerging cannabis markets, with a focus on providing a holistic view of the global cannabinoid market (cannabis and CBD). The team will also strengthen its operating infrastructure with investments in machine learning, marketing and sales, and strategic partnerships.
"As the global cannabis economy continues to expand, it is imperative that we're able to scale alongside it to remain an indispensable asset for key decision makers in the industry," said Roy Bingham, CEO and Co-Founder of BDS Analytics. "We're excited about this new round of funding, which will allow us to further enhance our GreenEdge platform and expand our capabilities to the entire addressable cannabinoid market."
The GreenEdge platform incorporates thorough and up-to-date dispensary sales data, industry intelligence and consumer research with a 360-degree perspective of the cannabinoid market. Savvy clients use the GreenEdge platform to find the top-selling brands and products (Retail Sales Tracking), plan geographic expansion (Industry Intelligence), and understand their consumer's needs and wants (Consumer Insights). GreenEdge is the industry's leading business intelligence platform with over four years of historical data.
"I am excited to be part of the ongoing growth of BDS Analytics, which is used by the top brands in cannabis, BevAl, and traditional CPG to make critical business decisions," said Mr. Tapman. "No industry can survive without hard data and BDS Analytics is the authoritative source of market research for the global cannabinoid industry. As an investor I want to invest in great teams working on hard problems in fast-growing industries. This checks all those boxes."
About BDS Analytics:
Headquartered in Boulder, Colorado, BDS Analytics provides businesses with comprehensive, actionable, and accurate cannabinoid market intelligence and consumer research. The company provides a holistic understanding of the cannabinoid market by producing insights from tracking and categorizing millions of individual consumer transactions, extensive and detailed consumer research, and generating market- wide cannabinoid industry financial projections, all delivered through its market-leading GreenEdge platform. To learn more about how you can utilize BDS Analytics' industry-leading market research, visit: bdsanalytics.com
About 7thirty:
7thirty is a merchant banking group focused on the legal cannabis, hemp, and ancillary markets. 7thirty identifies investment opportunities in emerging cannabis companies related to ag-tech, med-tech, retail, e-commerce, SaaS solutions, and marketplaces. The 7thirty team includes cannabis investment veterans experienced in commodities, agriculture, technology & trading operations. 7thirty take a hands-on approach to investing, working with leading companies to devise smart strategies to thrive in this rapidly evolving market. 7thirty is headquartered in Boulder, Colorado with offices in New York City and Los Angeles, and is represented by Michael Best & Friedrich, LLP. To learn more about 7thirty, visit: 7thirtycapital.com
Contacts:
7thirty
Micah Tapman
+1.303.357.0378, ext. 705
info@7thirtycapital.com
BDS Analytics
Carrie Booze
North 6th Agency (for BDS Analytics)
+1.212.334.9753, ext.142
bdsanalytics@n6a.com
SOURCE: 7thirty Capital Group
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