Cannabis data firm Headset has raised $1.825M in a round led by Silverleaf Venture Partners, a private equity investment manager. the company said that this additional funding will accelerate expansion into legal markets and support new opportunities across the growing cannabis industry. Headset said it will deploy capital which will allow the company to quickly expand its market intelligence platform.
“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.
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. Poseidon was founded by Emily & Morgan Paxhia in 2013, making their first fund one of the longest-running dedicated cannabis investment funds.
“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.”