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Cannabis Supply Chain Optimization Platform Growthsayer Raises $800K

Helping cannabis dispensaries and retailers grow profitably with automated ordering and inventory recommendations

SAN DIEGO, CALIFORNIA, US, April 12, 2022 / -- Growthsayer, a San Diego based cannabis technology startup, has closed its $800,000 pre-seed round backed by Accord Capital and contributions from angel investors. The proceeds from this raise will be used to expand the supply chain optimization platform across domestic and international markets. Growthsayer helps cannabis retailers grow profitably by optimizing their inventory spend.

“The support from the folks over at Accord has been tremendous,” said Phillip Geltman, Co-Founder and CEO of Growthsayer. “It’s great to have partners who believe in our vision as strongly as we do.” Geltman has spent 12+ years in supply chain management at companies including M&M Mars, Gap, Old Navy, and Gymboree.

“We’re thrilled to enter the cannabis market with such a strategic and important platform for the industry. This is going to help gain a deep understanding into the unique challenges facing this value chain,” said Chris Lackner, Managing Director of Accord Capital. Lackner will also be joining the Board of Directors on Accord’s behalf.

The San Diego based cannabis technology company has been in business since early 2019 and has been making its splash within the retail sector by helping optimize and improve the inventory ordering process. “Retailers are letting 25% of revenue walk out the door each year from a poorly optimized supply chain,” says Geltman. “Organizations on the platform have seen double digit improvements in gross margins through better vendor and inventory management practices.”

“These kinds of glacial opportunities exist in all sectors of the cannabis supply chain from cultivation, distribution, manufacturing, and retail,” says Geltman. “We’ve seen over the past few years how these inefficiencies can bankrupt companies.” In the back half of 2022, Growthsayer plans to launch new products for other segments of the cannabis value chain.

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