This strategic increase will support Headset’s innovative analytics services and expansion efforts.
SEATTLE, November 30, 2021 / PRNewswire / – Headset, the leading provider of data and analytics for the cannabis industry, announced today that it $ 3 million of new capital led by Althea, a private equity investment company. Other participating investors include Poseidon Investment Management, a leading investor in the legal cannabis and hemp industries, and WGD Capital, LP, a cannabis-focused venture fund. As part of this funding, Headset has also switched $ 5.6 million of the previously issued bridge notes in August 2020 and April 2021. Headset’s unmatched volume of retail data is being used by thousands of companies to make smarter decisions about the cannabis industry, and this round of capital will allow them to expand that reach.
“With this latest round of capital, Headset is able to achieve significant industry milestones, including expanding our market measurement services to all legal markets and introducing new and exciting services to help companies monitor consumer buying behavior at unprecedented levels to understand and activate, “called Cy Scott, CEO and Co-Founder of Headset: “We look forward to working with Althea, who brings expertise in technology, analytics, CPG and cannabis.”
Since its inception in 2015, Headset has been a leader in providing advanced and unparalleled analytics services to growing cannabis customer bases, serving retailers and pharmacies in over thirty forecasted territories in the United States and America Canada. They continue to elevate the caliber of the cannabis industry, providing precise data-driven insights to brands, pharmacies, retailers, and organizations in the financial services and consumer goods sectors. This increase will deploy capital and ultimately allow Headset to rapidly expand its market intelligence platform.
“At Althea we work with exceptional founders who are passionate about their employees,” said Don Stoltz, Co-founder of Althea. “Cy, Scott and Brian made culture and collaboration a priority while promoting intellectual freedom Peter Drucker said “culture eats strategy for breakfast”. We are very excited to be joining the headset family on the next leg of their journey. “
“The headset platform is unparalleled in its breadth, depth and real-time analytics, providing it with an ongoing competitive advantage and growing business moat,” said Eliza Gairard, co-founder of Althea. “As the industry matures, the importance of data and analytics will grow exponentially and we believe Headset is uniquely positioned to win.”
Headset is a data analytics company in the cannabis industry with a mission to help businesses make better informed decisions through data. Headset focuses on collecting and analyzing consumer transactional information. Headset’s models and dashboards help cannabis retailers better streamline their day-to-day operations. In addition, product manufacturers, processors and distributors use the aggregated, standardized and anonymized sales data at document level in real time to identify trends and opportunities, remain competitive and collaborate with retail customers. Learn more at https://www.headset.io/.
Althea is an investment firm focused on the future of wellness. We are enthusiastic about people, plants and partnership. We believe in the power to change your mind. Our goal is to lead a curious life rooted in gratitude, authenticity and humility. We support entrepreneurs through strategic leadership, capital, and personal connections to achieve exceptional results for everyone involved. Althea Equity Fund I focuses on herbal wellbeing based on our belief that cannabis can really change the world for the better.
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