Springbig today announced that it acquired Canada-based BudTender, a customer experience platform for cannabis retailers. The acquisition adds 200 clients to springbig, which brings the total amount of retailers in its purview to 1,900.
This move comes as cannabis retailers are seeking novel approaches to expand their client base. In most regions, cannabis companies are unable to utilize modern advertising on social media. With BudTender, springbig adds another tool to its marketing and loyalty platform. Springbig says that BudTender will soon be integrated into springbig's platform, allowing users to access BudTender's reports and surveys.
"BudTender has been a dominant force in the Canadian [cannabis tech] space; the company's vision and platform effortlessly complements springbig's ongoing commitment to enhancing the cannabis retail and loyalty experience," said Jeffrey Harris, founder and CEO of springbig in a released statement. "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."
Founded by Jake Crow in 2017, BudTender had a fantastic 2020. According to springbig, BudTender saw 800% year-over-year growth and 1200% year-over-year revenue growth.
"This acquisition will not only be a boon to cannabis retailers across North America but also enrich millions of consumer experiences," said Crow. "This will undoubtedly create a more modern cannabis industry, and we are thrilled to officially join forces with springbig."
The terms of the deal are undisclosed.