Cannabis data firm Headset raises $8.6 million for expansion

Women, minority execs show few gains in U.S. cannabis industry, according to the latest data from the MJBiz Diversity, Inclusion and Equity Report. Get your copy here.


Cannabis industry data and analytics company Headset raised $8.6 million in new funding.

The funding includes:

  • $3 million of new capital in a fundraising round led by Norwalk, Connecticut-based private equity investment firm Althea.
  • The conversion of $5.6 million worth of bridge notes, issued in August 2020 and April 2021.

The new capital will “ultimately enable Headset to quickly expand its market intelligence platform,” the Seattle-based company said in a Tuesday news release.

That will include “the expansion of (Headset’s) market measurement services to all legal markets and (launching) new and exciting services designed to help organizations understand and activate consumer purchase behaviors at unprecedented levels,” Headset CEO Cy Scott said in a statement.

The company uses retail point-of-sale data to provide market intelligence and analytics to cannabis businesses.

The learning curve for entering the cannabis industry is steep. Start with the fundamentals.

MJBiz Cannabis 101 Email Course

A 10-part email course designed to educate new hires and aspiring professionals on the key fundamental areas of the legal cannabis industry, including:

  • History of legal cannabis in America
  • Overview of plant-touching + ancillary business sectors
  • Cannabis finance and investing
  • Cannabis marketing and brand building
  • Employment + hiring opportunities
  • And much more!

Gain a comprehensive understanding of this complex industry with this free resource.

Headset recently expanded its market coverage to Arizona, Illinois and Maryland, giving the company a total of 15 operating markets in the U.S. and Canada.

Headset and MJBizDaily entered into a data partnership in 2019.