New Frontier Data purchased Zefyr for $10 million.
The combined companies will work to offer AI-based data to businesses that want to get to know their customers.
The key to navigating the cannabis industry is information, and Zefyr is one of the platforms in the cannabis industry that is a leader in data discovery. Reports from Business Wire show that a new deal has been struck, as New Frontier Data secures a deal to purchase Zefyr. This acquisition is the first marketing tech solution to be developed in such a way.
Giadha Aguirre de Carcer, the founder and CEO of New Frontier Data, explained that New Frontier Data has maintained their position as a top cannabis market analytics firm for the last five years. The founder added,
“Today, as mature market entrants move beyond examining investment risks and opportunities to connecting with the cannabis consumer, Zefyr enables us to expand and deepen our data services to support these evolving cannabis data needs.”
There are many questions that Zefyr believes that their data can help marijuana businesses answer, including the locations of their target customers, the types of products that their consumers prefer, and what resources that the local communities have, including cannabis doctors and dispensaries. Jason Lorne Giles, the CEO of Zefyr, stated that the ultimate goal for the team is “to bridge the gap between information and understanding.” Zefyr prides itself on the positive user experience and the quality of their data.
As the team collects information, the data is analyzed and organized with artificial intelligence, machine learning, and Amazon Web Services. In doing so, businesses can learn information that can help them change the way that they do business.
There are presently two web-based solutions available through Zefyr – Consumer Dash and Product Data, while is directly connected with their Equio cannabis intel online platform. These firms create data sets with the information available to create a prediction regarding the activities of consumers in the future.
David Skull, the board chairman and co-founder of Zefyr, explained,
“Zefyr has applied cutting edge AI technology and proprietary algorithms applicable beyond the cannabis space, to this new consumer segment, helping CPG and cannabis enterprises discover their best targets across the fast-growing cannabis consumer base.”
With the combination of the skills of New Frontier Data and the Big Data processing of Zefyr, he states that businesses will be able to gather information that can help them develop new products.
Skull expressed that the team will soon be launching similar options internationally as well, though the leadership and team at Zefyr will be independent of the current legal arrangement. Still, in stock and cash combined, this transaction came with a $10 million price tag, following an acquisition of Hemp Business Journal by New Frontier Data last year. However, the price of the latter deal was not disclosed.