Marijuana Data Platform Headset Raises $8.6M In Funding Round Led By Althea

Cannabis data platform Headset announced Tuesday that it has raised $3M of new capital led by Althea, a private equity investment firm. Other participating investors are Poseidon Investment Management, a leading investor in the legal cannabis and hemp industries and WGD Capital, L.P., a cannabis-focused venture fund.

As part of this financing, Headset also converted $5.6M in bridge notes previously issued in August 2020 and April 2021. Headset's unmatched scale of retail data is leveraged by thousands of organizations to make smarter decisions when it comes to the cannabis industry and this round of capital will enable them to expand that reach and further expand its market intelligence platform.

"With this latest round of capital, Headset is able to achieve significant milestones in the industry, including the expansion of our market measurement services to all legal markets and launch new and exciting services designed to help organizations understand and activate consumer purchase behaviors at unprecedented levels,” Cy Scott, CEO and co-founder of Headset said. "We are excited to be working with Althea who brings expertise in the areas of technology, analytics, CPG and cannabis."

Headset, launched in 2015, provides various analytics services to growing customer bases within the cannabis industry and offers market estimates in the U.S. and Canada while supporting retailers and dispensaries across the states.

"At Althea, we partner with exceptional founders who are passionate about their people," said Don Stoltz, Althea co-founder. "Cy, Scott and Brian have prioritized culture and collaboration while encouraging intellectual freedom. As Peter Drucker said, 'Culture eats strategy for breakfast.' We are thrilled to join the Headset family on the next leg of their journey."

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