CIOApplications
static-image
  • Home
  • Applications
      • Bioinformatics
      • Business Continuity
      • Business Intelligence
      • Chatbot
      • Collaboration
      • Custom Software Development
      • CRM
      • Enterprise Reporting Software
      • GRC
      • Human Resource
      • Indoor Positioning
      • InsurTech
      • Intellectual Property
      • IT Operations Management
      • IT Service Management
      • Low Code Platform
      • Maintenance Management
      • Managed IT Services
      • MarTech
      • Master Data Management
      • Mobile Application
      • Order Management
      • Parking Management
      • Procurement Tech
      • Publishing Software
      • Remote Monitoring
      • RFID
      • Sales Tech
      • SAS
      • Software Testing
      • Task Management
      • Unified Communications
      • Workflow
      • Workplace Management
  • Verticals
      • BioTechnology
      • Construction
      • Contact Center
      • Education
      • Fintech
      • Food and Beverages
      • Government
      • Healthcare
      • Legal
      • Logistics
      • Manufacturing
      • Travel and Hospitality
      • Utilities
  • Technologies
      • Agile
      • API
      • Artificial Intelligence
      • Blockchain
      • CAD/CAM
      • Cloud
      • Cyber Security
      • Data Analytics
      • Data Center
      • Digital Transformation
      • Graphics
      • IoT
      • Machine Learning
      • Machine Vision and Imaging
      • Predictive Analytics
      • Robotic Process Automation
      • Simulation
      • Smart Labelling
  • Eco System
      • Adobe
      • Amazon
      • Esri
      • Google
      • IBM
      • Infor
      • Kubernetes Partner
      • NetSuite
      • Oracle
      • PTC Partners
      • Qlik Partner
      • Salesforce
      • ServiceNow
      • SiteCore
      • VMware
  • Vendors
  • News
  • Newsletter
  • Whitepaper
  • conferences
  • About Us
  • Specials

  • Menu
      • Business Continuity
      • Chatbot
      • Cloud
      • Collaboration
      • Contact Center
      • Esri
      • Human Resource
      • InsurTech
      • IT Service Management
      • Machine Learning
      • Manufacturing
      • Master Data Management
      • Procurement Tech
      • Robotic Process Automation
      • Salesforce
      • ServiceNow
      • Software Testing
  • Contact Center
  • Collaboration
  • Chatbot
  • Esri
  • Human Resource
  • InsurTech
  • Machine Learning
Specials
  • Specials

  • Business Continuity
  • Chatbot
  • Cloud
  • Collaboration
  • Contact Center
  • Esri
  • Human Resource
  • InsurTech
  • IT Service Management
  • Machine Learning
  • Manufacturing
  • Master Data Management
  • Procurement Tech
  • Robotic Process Automation
  • Salesforce
  • ServiceNow
  • Software Testing
×
#

CIO Applications Weekly Brief

Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from CIO Applications

Subscribe

loading
  • Home
  • MarTech
Editor's Pick (1 - 4 of 8)
left
Looking Past the Trends: Why Value Lies in the Convergence of Technology

Looking Past the Trends: Why Value Lies in the Convergence of...
Steve Betts, Senior Vice President and Chief Information Officer, Blue Cross and Blue Shield and Health Care Service Corporation

The Nuances of Marketing

The Nuances of Marketing
Dee Hadley, CMO, UNO Restaurants

How Tech is Changing Just About Everything in Marketing

How Tech is Changing Just About Everything in Marketing
David Roman, SVP & CMO, Lenovo

The State of Marketing Technology Solutions

The State of Marketing Technology Solutions
Clay Stobaugh, EVP & CMO, John Wiley & Sons

Getting Around the Marketing World

Getting Around the Marketing World
Kobi Ben Meir, Director of Marketing, Yalber

Why Mobile Marketing Represents a New Era of Digital Marketing

Why Mobile Marketing Represents a New Era of Digital Marketing
Kyle Keith, Vice President, Digital Marketing Manager at Cadence Bank, N.A.

Automating the Customer Journey - Busting the Myth of All or Nothing

Automating the Customer Journey - Busting the Myth of All or Nothing
Martin Coady, Executive Director, Marketing Technology, VMLY&R

The Rise of the Machines: Where Does the Person Stop and the Machine Start?

The Rise of the Machines: Where Does the Person Stop and the...
Michael R. Solomon, Professor of Marketing, Saint Joseph’s University

right

Thank you for Subscribing to CIO Applications Weekly Brief

springbig Secures $11M in Series B Round of Financing

By CIO Applications| Monday, August 17, 2020
Tweet

The recently raised capital will be used towards the expansion of springbig's brand's platform and accelerate its retail growth across the U.S. and Canada

FREMONT, CA: springbig, a leading provider in cannabis CRM and loyalty marketing technology, completes Series B round of financing led by TVC Capital, a software-based growth equity fund, and participation from KEY Investment Partners. Existing investors Argonautic Ventures, HALLEY Venture Partners, and Salex Capital also took part in the funding round.

springbig is one of the fastest-growing CannaTech platforms and South Florida's second-fastest-growing technology company. Since the closure of its Series A in December 2018, springbig's customer base has exponentially grown from 2M to 21M users, a 950 percent increase in less than two years. springbig at present is used by more than 1,400 retailers across the U.S. and Canada and is proud to have a majority of the Multi-State Operators in the U.S. as springbig clients.

The Series B investment will kick-start the growth of springbig's new Brands Platform and further extend its penetration throughout the U.S. and Canada. Founded in June 2020, Brands by springbig, is a one-of-its-kind brand marketing platform that enables brands to reach cannabis consumers via targeted MMS and SMS messages directly. The platform creates an avenue for brands to drive direct-to-consumer engagement while maintaining compliance with strict cannabis regulations. Twelve national and local brands, including Pax Labs and Coda Signature, have already signed up for the new service, and springbig expects to work with dozens more in the coming months.

"We are thrilled to announce this next round of funding and our partnership with some of the leading growth equity and venture capital firms in technology and cannabis. This investment speaks to springbig's software innovation and success in bringing both U.S. and Canadian cannabis companies valuable marketing software for increased customer retention and ROI," said Jeffrey Harris, Founder, and CEO of springbig. "We are working diligently to provide state-of-the-art, compliant marketing technology to an industry riddled with stringent regulations. This capital will help us provide even more value to our customers across North America and introduce our solutions to an even larger base of both Brand and Retail clients."

springbig has widened its base into Canada late last year, with plans to expand its limits throughout North America and with additional technology software partnerships. The capital will support the fulfillment of these initiatives and provide springbig's loyalty marketing software across several hundred additional cannabis retailers.

"We are very pleased to have the opportunity to work with Jeff Harris and his outstanding team at springbig. Having spoken with most of the SaaS firms in the industry, we were beyond impressed with the success that the company has experienced, the excellence of its product offerings and the company's performance across all of the traditional SaaS metrics," commented Jeb Spencer, Co-Founder and Managing Partner of TVC Capital. "We see tremendous opportunity to work with springbig to help drive the expansion of their unique and highly differentiated products that have, unarguably, taken the industry by storm."

tag

SaaS

ROI

Weekly Brief

loading
ON THE DECK

Top Vendors

Field Service 2021

Top Vendors

Previous Next
Tweets by CIOApplications

Read Also

How 3D Printing Has Facilitated Digital Manufacturing?

How 3D Printing Has Facilitated Digital Manufacturing?

Things to Check while Purchasing Injection Molds

Things to Check while Purchasing Injection Molds

How Technology Transforms the Facets of Insurance Sector

How Technology Transforms the Facets of Insurance Sector

The Importance of Insurtech

The Importance of Insurtech

Key Strategies for Software Testing that Optimize Quality Assurance

Key Strategies for Software Testing that Optimize Quality Assurance

How to Use Machine Learning Against Email Phishing

How to Use Machine Learning Against Email Phishing

Loading...

I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

Copyright © 2021 CIOApplications. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy Policy |  Sitemap  |  Subscribe |  About Us

follow on linkedin follow on twitter follow on rss
This content is copyright protected close

However, if you would like to share the information in this article, you may use the link below:

https://www.cioapplications.com/news/springbig-secures-11m-in-series-b-round-of-financing-nid-6248.html