BDS Analytics closes on $3.5 million Series B funding round

BOULDER — BDS Analytics, a Boulder-based cannabis market intelligence company, closed on $3.5 million in Series B funding.

The round was led by CanopyVentures, which invested $750,000 in BDS Analytics. BDS is a graduate of the Canopy Boulder accelerator, which focuses on businesses ancillary to the cannabis industry.

Other investors in the round include Altitude Investment management, Panther Opportunity Fund and other investors.

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The plan is to expand the company’s GreenEdge software nationally and roll out its Consumer Insights and Industry Intelligence services to a broader client base.

The GreenEdge software tracks sales and allows BDS to generate actionable insights pulled from dispensary point-of-sale systems. The Consumer Insights Group then studies the behavior and psychographics of cannabis users, while the Industry Intelligence services enables the company to make accurate market-wide financial projections and help the industry make better-informed decisions.