Cresco Labs’ Mindy’s Edibles Ranks First for Cannabis Edible Sales In Nevada

ILLINOIS: Cresco Labs, one of the largest vertically integrated multistate cannabis operators in the United States, is excited to announce that its Mindy’s Kitchen brand has been ranked the top selling edible in Nevada according to Headset, the first real-time data analytics and business intelligence platform for the cannabis industry. In partnership with Cresco Labs, James Beard Award-winning chef Mindy Segal created the industry’s first culinary-backed, cannabis-infused edibles, with a six-state distribution planned for 2019. In Nevada, Mindy’s Pink Lemonade Gummies, Strawberry Sparkling Wine Hard Sweets and Wild Cherry Gummies, ranked first, ninth and tenth, respectively, by Headset, for edible sales in the state.

“We launched Mindy’s Edibles in Nevada in mid-August and, in less than six months, our products are now carried in 62 out of 67 dispensaries in the state,” said Cresco Labs CEO and co-founder Charles Bachtell. “Our proven ability to create brands that resonate with each consumer segment and establish a dominant retail market position is a key differentiator for Cresco Labs.”

Mindy’s Artisanal Edibles include a line of decadent chocolate brittle bars and homespun baked goods infused with clear distillate allowing the best ingredients to shine through. The Mindy’s Kitchen brand – a collaboration between Mindy and her talented group of chefs – offers fun, fruity confections for everyday enjoyability and effectiveness. The confections are infused with RSO and winterized sativa, indica and hybrid oil that complement the approachable flavors. Mindy’s Edibles are produced and distributed in partnership with Silver State Wellness in Nevada.

Headset Insights Launches In California

CALIFORNIA: Headset is proud to announce the latest launch of its market intelligence product Headset Insights, for California’s legal cannabis industry, expanding its cannabis intelligence coverage to the largest cannabis economy in the US.

Headset Insights is a tool for businesses that delivers market trends based on aggregated sales data collected from retailers and dispensaries in real-time, so operators can better understand the competitive landscape, know their brands’ position in the market, and even identify opportunities for future product development.

As the birthplace of cannabis legalization initiatives in 1996, the forecasted size of the California market is expected to swell to $5.6 billion by 2020, marking it the largest in the United States, with all four of its major metropolitan markets currently online with legal cannabis production, testing and retail outlets.

The number of retail licenses grew by 113% during the first six months of 2018, proving that there will be no shortage of outlets available to the adult use consumer. As of July 1, stringent new regulations on testing, packaging, and labeling have gone into effect in California, securing the positions of the industry’s most serious players. There has never been more need for big data products and services.

“Since we launched our Insights platform last year in Washington, Colorado and Nevada, retailers, manufacturers and brands throughout the state of California have been asking us when we would be expanding to their state to provide them with this valuable tool,” says Cy Scott, founder and CEO of Headset. “We are delighted to be able to now offer California market data to our customers helping companies get a better sense of category, segment, brand and product trends as the California cannabis industry continues to mature and cement itself as the largest market in the world. Although the market is quite new, our data already shows that California is behaving in a significantly different way than other recreational markets.”

The cannabis industry is moving rapidly, and operators are looking to use data analytics to identify the fastest-moving product segments and consumer demographics before their competitors do.

Unlike other software tools, Headset collects this data in real time, directly from the industry’s top POS systems, and reports back to operators to guide their most crucial business decisions.

Cannabis operators and other industry players can run analytics on cannabis products at the SKU, brand and category level, gaining key insights into where they rank within the overall market. Headset’s market data illustrates how manufacturers stack up next to the competition and is invaluable for brand positioning when approaching new or existing clients.

Real-time analytics are important, as the state regulations continue to change, and new licenses continue to roll out, creating even more competition. With Headset Insights real-time data, operators can find out what is happening in the market right away and make timely business decisions.

For information about the California cannabis market, read Headset’s Early Market Trends: California 2018 industry report.

 

Baker And 8 Other Leading Cannabis Companies Launch The “Future of Cannabis Retail”

COLORADO: Baker, a leading cannabis industry CRM, along with eight other cannabis companies, have debuted Future of Cannabis Retail, a movement dedicated to helping the cannabis industry evolve and operate as a collaborative ecosystem. The movement, which was first teased out on social media in April with the hashtag #futureofcannabisretail and has since created buzz across the industry, includes a short film that premiered this week at the MJBizConNEXT cannabis conference in New Orleans.

“We want to bring together consumers, dispensaries, ancillary services, cultivators, and producers to take the cannabis industry further than any other industry,” said Joel Milton, CEO of Baker. “We have the opportunity to transform cannabis retail and cultivate an industry that operates as a collaborative ecosystem. With the launch of the Future of Cannabis Retail movement — and support from other leading cannabis companies — our mission is to bring the industry together to set the path for trusted, responsible consumption with testing, accountability and transparency.”

The cannabis companies that partnered with Baker on the movement include: Lightshade, a medical and adult-use dispensary with eight locations throughout Metro Denver; Hypur, a banking and payment technology solution for the cannabis industry and other highly-regulated markets; Confident Cannabis, the only platform for cannabis businesses to trade wholesale powered by lab data; Trellis, a cannabis seed-to-sale inventory management software provider; Headset, a cannabis business and industry analytics platform based on real-time data; Cova, a cannabis retail point of sale and touchscreen menu solutions that make complex operations and compliance simple; Rootery, an online marketplace helping consumers choose cannabis products; StickyGuide for Business, a cannabis marketing technology company featuring TV menus and mobile apps.

Headset Announces $2.5 Million In Financing; Ramps Up Services To Cannabis Clients

WASHINGTON: Headset, a leading retail analytics firm for cannabis-related businesses closed $2.5 million in financing as part of its efforts to ramp up its suite of data products in the ever-competitive cannabis technology space.

Hypur Ventures, a leading-edge venture capital fund headquartered in Arizona, and Salveo Capital, a Chicago-based private-equity fund specializing in cannabis sector investments, have partnered with Headset to provide a deeper, richer set of tools for the emerging market.

“With this most recent fundraising, we are excited to be able to accelerate development and  adoption of Headset products across all legal cannabis markets,” said Cy Scott, co-founder and CEO. “Headset is well positioned to help the cannabis industry make more informed business decisions supported by retail transaction data.”

As the cannabis industry matures — eight states now have legalized recreational use and another 29 have medical marijuana programs — business intelligence is the key differentiator among successful and failing enterprises. Legal U.S. cannabis sales skyrocketed 17 percent to $5.4 billion in 2015. Most analysts forecast 25 percent compound annual growth in the next five years, expanding to market to 21.8 billion by 2020. As a comparison, this explosive industry growth curve mimics that of the cable TV business in the 1990s, which enjoyed a 19 percent annual growth and the broadband internet industry of the 2000s (29 percent).

For years, cannabis company’s struggled to tap into this revenue stream, suffering from a lack of actionable data insights that would inform business decisions. Headset, with its proprietary analytics, gives clients the information and tools to grow their business.

“Headset specializes in seeing ahead of the curve in terms of trends and innovation in the hyper-competitive cannabis market,” said Hypur Managing Director Christopher Male. “There’s a lot of synergy with the ecosystem of the Hypur Ventures portfolio.”

“Salveo Capital is excited to be partnered with Headset and its team,” said Managing Partner Michael Gruber. “Actionable data is critical to running a successful business, and Headset is empowering brands, product manufacturers, and retailers with insights not available previously.  Headset’s products will be a critical tool to a cannabis company’s success.”

With the $2.5 million infusion, Headset moves into 2017 in a strong position to help businesses as the new legal landscape expands. It will help close the information gap that has hampered companies in this emerging industry.

For more information or to request a free demo of the Headset platform please visit www.headset.io

Leafly Founders Depart, Raise Cash For New Marijuana Business Intelligence Startup

WASHINGTON: After five years, the founders of marijuana strain and dispensary database Leafly are moving on to their next cannabis-related startup.

Cy ScottBrian Wansolich, and Scott Vickers — who launched Leafly in 2010 — are the co-founders of Headset, a new Seattle-based startup that’s building a business intelligence platform for the fast-growing marijuana industry.

headset-product-details-mobile-r1Headset, which just raised about $450,000 of a $750,000 seed round from Poseidon Asset Management and a group of angel investors, offers what Scott describes as a market research and analysis tool similar to NielsenNPD or IRi, but for customers in the marijuana supply chain.

The idea is to give marijuana retailers, processors, and growers better insights and intelligence for their business, ultimately helping them make more money and offer better customer service.

“We’re staying in the cannabis industry but are tackling a different problem,” said Scott, who’s taking on the CEO role for the new company.

Headset’s platform provides a number of operational insights. For example, retailers can be immediately notified when stock is low of a particular product that’s been selling well, or find out if a specific strain isn’t flying off the shelves like it used to. Meanwhile, product manufacturers can access sell-through data, all-commodity volume information, and a competitive set analysis, among other insights.