Cannabis Data Leader, BDS Analytics, Raises $3.5 Million in Series B Led by CanopyVentures and Altitude Investment Management
May 17, 2018, 09:00 ET
BOULDER, Colo., May 17, 2018 /PRNewswire/ -- BDS Analytics, the leader in comprehensive, actionable, and accurate cannabis market intelligence and consumer research, today announced that the company has raised $3.5 million in a Series B funding round led by CanopyVentures and Altitude Investment Management, with participation from other leading investors, including Panther Opportunity Fund, and follow-on investments from several existing investors.
"We are very pleased to receive investments from such an illustrious group," said Roy Bingham, CEO and Founder of BDS Analytics. "This funding places us in a very strong position to execute the national expansion of our GreenEdgeTM software and to roll out our Consumer Insights and Industry Intelligence services to a much broader client base."
Using the GreenEdgeTM sales tracking software, BDS Analytics is able to generate actionable insights pulled from dispensary point-of-sale system and closely study the behaviors and psychographics of cannabis users through its Consumer Insights Group. Its Industry Intelligence Services enables the company to make accurate market-wide financial projections and help the cannabis industry make better informed decisions. The company provides tremendous value for businesses within both cannabis and traditional industries, giving them access to previously unavailable market data.
"BDS Analytics graduated from our affiliated accelerator, CanopyBoulder, in 2015 and has since done an exceptional job positioning itself as a go-to source for industry data on market trends, brand development and consumer insights," said Micah Tapman, Managing Director of CanopyVentures. "We are thrilled to help drive BDS Analytics' incredible growth and look forward to continuing to work with the team to realize their many opportunities."
"We are very impressed with the management team," said John Brecker, Partner of Altitude Investment Management, LLC. "Based on extensive experience in other industries, BDS Analytics has developed proprietary software and services that provide its clients with really useful data and insights. Its value is reflected in the rapid growth and diversification of the BDS Analytics client base."
About BDS Analytics:
Headquartered in Boulder, Colo., BDS Analytics provides businesses with comprehensive, actionable, and accurate cannabis market intelligence and consumer research. The company provides a holistic understanding of the cannabis market by producing insights from dispensary point-of-sale systems through its market-leading GreenEdgeTM platform, driving consumer research with its Cannabis Insights Group, and generating market-wide cannabis industry financial projections. To learn more about how you can utilize BDS Analytics' superior market research, please visit www.bdsanalytics.com.
North 6th Agency (for BDS Analytics)
SOURCE BDS Analytics
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