The original article appeared here.
By Zach Armstrong – Tech and Innovation Reporter
February 09, 2022, 03:44pm EST Updated 40 minutes ago
Standard Insights, an Atlanta-based AI marketing platform, now has an integrated partnership with cannabis software company Flowhub to help their dispensaries improve data literacy.
Of the over 80 point-of-sale systems currently used in the cannabis industry, Flowhub has close to 15% of the market share among dispensaries. The company has a valuation of over $200 million and counts rapper and mogul Shawn “Jay-Z” Carter and venture capital firms Headline and Poseidon as investors.
Flowhub’s dispensary management platform provides inventory management, dispensary analytics, mobile ID scanners for customer check-in and auditing as well as easy integrations for thousands of legal medical marijuana and retail cannabis dispensaries across the U.S.
By using Standard Insight’s AI platform, Flowhub can better assist dispensary owners to predict profitability, recommend what customers like to purchase and forecast how much product will sell in a given day.
“Both the AI and cannabis industries project to see exponential growth of $997 and $70.6 billion respectively by 2028,” said Jerry Abiog, Co-Founder and CMO of Standard Insights in a news release. “We bring the AI and cannabis worlds together in an easy-to-use subscription service,”
Standard Insights was founded in Atlanta in 2019 and currently employs a total of five employees. Its current annual revenue is over $1 million serving over 50 customers across the U.S.
Correction: This report has been corrected to show Flowhub’s market share is 15%. An earlier version misstated the figure.