Dama to Buy Candid AI for Undisclosed Amount

The acquisition dovetails into Dama's recent acquisition of GrowFlow.

Privately owned cannabis financial firm Dama agreed to buy Candid AI, a digital e-commerce platform that makes personal product recommendations. The acquisition price was not disclosed.

“Candid’s unique virtual budtender doesn’t just offer tech, it offers a personal touch that gives tailored recommendations to every consumer,” said Patrick O’Boyle, CEO of Dama. “Through the integration of Candid with Dama’s comprehensive solutions, we’re making it even easier for cannabis businesses to understand their business metrics and flourish. Our goal has always been to simplify things for our clients, letting them concentrate on what they do best: growing their businesses.”

Dama said that the acquisition dovetails into its recent acquisition of GrowFlow, a leading seed-to-sale software platform. The company said in a statement that Candid will integrate seamlessly with GrowFlow and Dama’s retail point of sale, providing consumers with access to consistent, accurate product recommendations both online and in-store.

“We’re ecstatic to unite with Dama and GrowFlow, amplifying our mission to redefine cannabis tech,” said Nathan Darazio, co-founder of Candid AI. “Together, we offer operators a complete ecosystem, empowering them with tailored solutions from cultivation to POS, integrated payments and loyalty. Candid’s AI-powered budtender in the menu is just the beginning: get ready for the future of hyper-personalized, modern commerce solutions and a whole new way for brands to reach their ideal consumers.”

Dama said that its goal is to unify operations under one roof, building a full-stack solution for each type of cannabis operator.

“Beginning with banking and payments products and expanding to seed-to-sale and POS software, Dama now extends its offerings to e-commerce with Candid AI, allowing all GrowFlow retailers to create customizable, data-driven online menus with an industry-leading consumer recommendation algorithm,” the company said in its statement.

Debra Borchardt

Debra Borchardt is the Co-Founder, and Executive Editor of GMR. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Debra has a Master's degree in Business Journalism from New York University.

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