Marijuana C-Suite Chronicles: Otha Smith Of Tetragram Closes The Data Gap In Cannabis Consumer Analytics

In an exclusive Benzinga interview, Otha Smith III, CEO and founder of Tetragram, takes us through his transformative journey from occasional cannabis use since the age of fifteen to pioneering the first-of-its-kind consumer data analytics company following Maryland's legalization of medical marijuana in 2014.

Otha Smith III, founder of Tetragram

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Smith's Motivation: Unveiling Data-Driven Paradigm

Motivated by the lack of data for both consumers and the industry regarding the potential effects of cannabis use, in 2020 Smith established Tetragram, the first-of-its-kind consumer data analytics company. He highlights the industry's reliance on transactional data and asserts the need to understand the "why" behind each customer's purchase.

"For years, the industry relied on transactional data from point of sale (POS) providers. But the problem with transactional data is it doesn’t tell us why a customer made the purchase," he said.

Tetragram is at the forefront of transforming data collection by providing consumers with a HIPAA-compliant mobile app to journal their cannabis experiences. Smith explains the unique approach that allows Tetragram to analyze customer intent and collect crucial information on terpenes and cannabinoids, unraveling the intricate interactions with the human body.

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Impactful Collaborations: Tetragram and 40 Tons' Mission for Diversity and Justice

Tetragram's collaboration with 40 Tons, a social-impact cannabis brand, involves a shared effort to raise awareness about diversity in the cannabis industry and to contribute to freeing individuals incarcerated for non-violent cannabis convictions.

"We thought it would be great to collaborate on a t-shirt to bring awareness to the lack of diversity in the cannabis industry and to raise money for people who are currently in prison for cannabis,” Smith told Benzinga. “10% of all proceeds go to commissary accounts of prisoners and the remaining 90% will go towards 40 Tons mission to free cannabis prisoners."

40 Tons co-founders: Loriel Alegrete, Corvain Cooper and Anthony Alegrete

 

Recognitions and Partnerships: Tetragram's Journey to Success

Proudly acknowledging Tetragram's achievements, including the Silver W3 award and recognition as one of the top 5 startups to watch in 2022, Smith also talks about strategic partnerships with industry leaders like Curaleaf Holdings Inc CURLF, Green Thumb Industries Inc GTBIF and the cannabis data and business intelligence provider New Frontier Data.

These collaborations have been instrumental “in increasing our customer adoption rate and allowing us to expand our presence much faster nationwide," he said.

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Beyond THC: Shifting The Narrative Towards Informed Purchases

Identifying a significant issue in the industry, Smith discusses how Tetragram's data aims to reshape the narrative, advocating for products to be sold based on specific medical conditions and desired effects rather than just THC content.

"The industry has taken advantage of consumers' lack of knowledge by selling products based on THC content." Smith envisions a future where consumers make purchases based on terpene and cannabinoid content. 

Smith's Personal Journey From Opioids To Plant-Based Medicines

Reflecting on Tetragram's success, Smith shares his journey from opioid use to choosing medicinal marijuana after a car accident, which he says opened his mind to plant-based medicines and natural remedies that provided a transformative alternative.

"Throughout using opioids for over 3 years, my body became dependent on it in a lot of ways. Transitioning to cannabis helped manage symptoms of withdrawal and allowed me to control when I needed medicine to manage pain."

Otha Smith III, founder of Tetragram

 

Advice for Aspiring Entrepreneurs

Smith emphasized the importance of understanding the history of cannabis, surrounding oneself with well-intentioned people and maintaining authenticity and patience in an industry that is still in its infancy.

“To succeed, people must be willing to transform and adapt no matter which way the market moves.”

See Also: Success Stories Of Minorities In Cannabis C-Suite: 'The Future Of Cannabis Is Female'

Tetragram's Vision For Research, Expansion And Psychedelic Insights

Smith says Tetragram's goals include establishing strategic relationships with state lawmakers, conducting more research and expanding the platform to include individuals who consume psychedelics, allowing them to journal and share their experiences.

Stay tuned for more articles delving into the success stories of minorities in C-Suite roles within the cannabis industry.

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All photos courtesy of Tetragram by Otha Smith