Headset Raises $1.825M to Expand Its Leading Data Platform Into New Markets
This strategic bridge raise will continue delivering Headset's innovative analytics services
SEATTLE, April 30, 2021-- Headset, the leading provider of data and analytics to the cannabis industry, announced today that it has raised $1.825M led by Silverleaf Venture Partners, a private equity investment manager. Other participating investors are WGD Capital, L.P., a cannabis focused venture fund, and Poseidon, a leading investor in the legal cannabis and hemp industries. This additional funding will accelerate expansion into legal markets and support new opportunities across the growing cannabis industry.
"The cannabis industry continues to expand at a significant rate, with new markets legalizing faster than ever before," said Cy Scott, CEO and Co-Founder of Headset. "With this new round of capital, Headset can better support these emerging markets while continuing to deliver the innovative analytics Headset is known for."
Since its launch in 2015, Headset has been the leader in powering advanced and unparalleled analytics services for growing customer bases within cannabis, supporting retailers and dispensaries in over thirty territories, with market projections in the U.S. and Canada. They continue to elevate the caliber of the cannabis industry providing precise data-driven insights to brands, dispensaries, retailers and organizations in the financial services and consumer packaged goods sector. This raise will deploy capital and ultimately enable Headset to quickly expand its market intelligence platform.
"We are thrilled to be investing with the industry's leading market intelligence platform," said Douglas Hannah, Co-Founder of Silverleaf Venture Partners. "Silverleaf's brand and dispensary partners consistently advised us that Headset's information was clear and accurate, which gave managers confidence in making key business decisions."
"As a former Chief Technology Officer, I can confidently say that Headset's platform is unrivaled in any industry," said Andre Haroche, Co-Founder of Silverleaf Venture Partners. "What CTO Scott Vickers and the Headset team have achieved is truly remarkable; they have created usable, actionable information from an entire industry's data-set in real time."
Headset is the cannabis industry's leading data analytics company serving over 1700 retailers across 30 states. Headsets' mission is to help businesses make better-informed decisions through data. Headset focuses on collecting and analyzing consumer transaction information. Headset's models and dashboards help cannabis retailers better optimize their day-to-day operations. In addition, product manufacturers, processors and distributors leverage the aggregated, standardized and anonymized receipt-level sales data in real-time to identify trends and opportunities, stay competitive and collaborate with retail customers. Learn more at https://www.headset.io/
About Silverleaf Venture Partners:
Silverleaf Venture Partners is an investment manager specializing in the cannabis industry. Silverleaf has completed over 30 investments since 2019 in some of the industry's most respected companies -- including Ebbu, Jane Technologies, Conception Nurseries, and more. Its founding partners have over three decades of experience as principal investors in real estate, private equity and venture capital and today they selectively manage outside capital alongside their own. For more information, please visit www.slvp.co
Poseidon was founded by siblings Emily & Morgan Paxhia in 2013, making their first fund one of the longest running dedicated cannabis investment funds. The Poseidon team has focused on a diversified strategy covering a range of company stages and industry subsectors across the capital spectrum. Now in the eighth year of conducting due diligence, deploying capital, and serving on multiple company Board of Directors, the team is considered a leader in the cannabis industry. This recognition, in conjunction with Poseidon being a first mover in the cannabis investment space, has led to a level of trust with industry insiders. Poseidon has forged a positive reputation in the cannabis industry by helping companies when others would not, resulting in proprietary deal flow. www.poseidon.partners
About WGD Capital, L.P.:
WGD Capital formed the WGD Opportunity Fund, L.P. l to capitalize on the rapidly evolving and expanding legal cannabis industry. The fund is uniquely positioned to support market-leading businesses while mitigating risk through professional management, diversification, structured investments and corporate governance. The fund is strategically located in key cannabis, technology and capital market locations, with offices in Palo Alto, Vancouver and Tel Aviv. For more information, please visit www.wgdcapital.com.
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