Series A Round Gives $5m Hug for Hoodie

In Chicago, cannabis market data and technology firm Hoodie Analytics has secured $5m in Series A funding, earmarked for the expansion of its newly launched market insights and product data management platform. The firm has also strengthened its Board with a number of appointments.

Hoodie Analytics provides data and insights for US businesses in the cannabis market, and brings experience from CPG and other sectors to bear on tracking movements and trends in the fledgling area.

Hoodie has appointed David Navama, co-founder of Vitamin Capital and former President and Chief Innovation Officer of SPINS, and Timur Sultanov from Measure 8 Partners to its Board of Directors; while Andy Sturner, Partner at Entourage Effect Capital, and John Campbell of Satori Investors join as observers.

The Raise was led by Measure 8 Partners with follow-on from Entourage Effect Capital (EEC) and Satori Investors. Early investors in the series A round also include Greenlight Investors and OlsonUbben via Tony Olson, Founder and Chairman of SPINS. The round remains open with a potential follow-on of $1m.

Hoodie CEO and Chairman Wes Shepherd (pictured) comments: 'The cannabis industry serves such a large and diverse consumer base that overarching market demands and consumer trends cannot accurately predict customer behavior at a hyper-local level. Location, age, income and other factors all affect the decisions a customer makes at the register. Only Hoodie provides granular market data down to individual dispensary level for brands and operators. We help them position their product in front of their target audiences to maximize sales and success. With the support of our incredible investors, Hoodie will continue to expand its dynamic suite of tools to best serve the industry we love'.

Web site: www.hoodieanalytics.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.