Florida-based cannabis loyalty marketing and communications technology company springbig on Tuesday acquired Canada-based customer experience platform BudTender, creating what the company called “the most in-depth marketing, loyalty, and retention platform for cannabis dispensaries and brands.”
The terms of the deal were not disclosed.
Through the acquisition, BudTender will add over 200 clients to springbig’s existing customer base, increasing springbig’s market share to over 1,900 retailers throughout the U.S. and Canada.
Jeffrey Harris, springbig’s founder and CEO, said BudTender’s “vision and platform effortlessly complements springbig’s ongoing commitment to enhancing the cannabis retail and loyalty experience.”
“As the legal industry becomes increasingly sophisticated, brands and retailers will need to deploy more comprehensive customer retention and satisfaction solutions in order to stay competitive.” — Harris in a statement
Budtender CEO Jake Crow said the acquisition will “be a boon to cannabis retailers across North America” while enriching customer experiences and “will undoubtedly create a more modern cannabis industry.”
BudTender will integrate into springbig’s platform, allowing retailers and brands to access customizable customer surveys, weekly reports, an AI-powered feedback platform, 24/7 customer support, and track key performance indicators in real-time.
Last year, BudTender experienced 800% year-over-year store growth and 1,200% year-over-year revenue growth, the company said in a press release. Springbig, which was founded in 2017, develops custom cannabis industry loyalty software and boasts a 99% open rate on its targeted and personalized text message campaigns.
BudTender was already being used by more than 200 retailers in the U.S. and Canada.
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