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.

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.