Hoodie closes financing round A with $5 million

Hoodie Analyticsa Chicago, Illinois-based cannabis data and technology company, has raised $5 million in Series A funding round.

The round was led by Measure 8 Partners, with participation from Entourage Effect Capital and Satori Investors. Early Series A investors also included Greenlight Investors and OlsonUbben through Tony Olson, founder and chairman of SPINS. Additional participation came from insiders such as Arcview Ventures Seed Fund, Arcview Collective Fund, Greenlight Investors, and Tech Nexus. Under the terms of the capital raise, an initial $5 million was closed, with an additional $1 million open for a follow-on raise.

The company plans to use the funds to accelerate the market expansion of its newly launched platform.

Led by CEO Wes Shepherd, Hoodie Analytics provides a cannabis market insight and product data management platform that tracks daily market movements and gives users access to the best people, processes and data that provide the critical factor in building a successful brand.

In addition, the company has further strengthened its leadership and governance structures with the appointment of David Navama, co-founder of Vitamin Capital and former President and Chief Innovation Officer of SPINS. Timur Sultanov of Measure 8 Partners also joined the Board of Directors, as did observers Andy Sturner, Partner at Entourage Effect Capital, and John Campbell of Satori Investors.

FinSMEs

27.06.2024