Hoodie Closes Out $5 Million Series A to Accelerate Development of its Cannabis Market Intelligence Platform

Capital infusion to fuel development of its industry-leading market intelligence platform which empowers brands and operators with CPG-level analytics capabilities

CHICAGO, June 27, 2024 /PRNewswire/ -- Hoodie Analytics (Hoodie), a leading U.S.-based cannabis data and technology firm delivering insights into market performance and competitive intelligence, today announced it has secured all of its $5 million Capital Raise (the "Capital Raise"). Under the terms of the Capital Raise, $5 million has initially closed, with another $1 million open for a follow-on raise. The proceeds will primarily be used to fund the market expansion of Hoodie's newly launched cannabis market insights and product data management platform.

The Capital 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. Hoodie saw continued participation from insiders such as Arcview Ventures Seed Fund, Arcview Collective Fund, Greenlight Investors, and Tech Nexus.

Additionally, Hoodie further strengthened its leadership and governance structures with the appointments of David Navama, Co-founder of Vitamin Capital and former President and Chief Innovation Officer of SPINS. Timur Sultanov from Measure 8 Partners also joins the Board of Directors, as well as observers Andy Sturner, Partner at Entourage Effect Capital, and John Campbell of Satori Investors.

"We are immensely impressed by Hoodie's innovative strides in developing a state-of-the-art analytics tool for the cannabis sector," states Boris Jordan, Founder and Partner of Measure 8 Partners. "We are confident that the ability to make informed, data-driven decisions will become increasingly critical for cannabis industry stakeholders as the sector matures."

"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," said Wes Shepherd, CEO and Chairman of Hoodie. "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."

For more information regarding Hoodie Analytics' data solutions, please visit https://www.hoodieanalytics.com/.

About Hoodie
Hoodie Analytics was founded on the belief that cannabis businesses need deep operational insights and applications to better compete. Our team has decades of experience with e-commerce intelligence & market measurement in markets like Consumer Packaged Goods (CPG). With Hoodie Analytics, you get an indispensable partner tracking the daily movements of the market. You get access to the best people, processes, and data which deliver the critical factor towards building a winning brand. You can focus on running your business. Hoodie delivers the insights needed to outgrow the pack. Please visit https://hoodieanalytics.com for more information.

SOURCE Hoodie Analytics