BDS Analytics, a Boulder, CO-based provider of cannabis market intelligence and consumer research solutions, held an initial closing of $7m in a new $10m financing.
The round was led by KEY Investment Partners, Altitude Investment Management, and 7thirty, with participation from other investors. Additionally, Pete Karabas of KEY Investment Partners will be joining the board of directors alongside existing representatives from Altitude and 7thirty.
The company 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), and
– strengthen its operating infrastructure with investments in machine learning, marketing and sales, and strategic partnerships.
Founded in 2015 by Roy Bingham, CEO, BDS Analytics provides businesses with cannabinoid market intelligence and consumer research solutions. The company provides a holistic understanding of the cannabinoid market by producing insights from tracking and categorizing millions of individual consumer transactions, detailed consumer research and generating market-wide cannabinoid industry financial projections, all delivered through its GreenEdgeTM platform. GreenEdgeTM incorporates up-to-date dispensary sales data, industry intelligence and consumer research with a 360-degree perspective of the cannabinoid market.
The company also has announced the appointment of Micah Tapman, Managing Partner and co-founder of 7thirty, as chairman.