Acquisition further enhances Weedmaps’ marketing solutions for managing and growing cannabis businesses
IRVINE, Calif.–(BUSINESS WIRE)–WM Technology, Inc. (“WM Technology” or the “Company”) (Nasdaq: MAPS), a leading technology and software infrastructure provider to the cannabis industry, announced today that it has acquired Sprout, a leading, cloud-based CRM & marketing platform for the cannabis industry. WM Technology’s acquisition of Sprout reinforces the company’s end-to-end operating system as one of the most comprehensive software solutions available in the cannabis market today.
“Our strategy focuses on establishing WM Business as the software solution of choice for cannabis businesses. With the addition of Sprout, we are one step closer to realizing this vision of providing an all-in-one seamless and integrated solution to run, manage, and grow one’s cannabis business,” said Chris Beals, CEO and Chairman of WM Technology, Inc. “This acquisition will allow our clients to better target, reach, acquire and retain customers at scale. I also want to welcome Jaret Christopher, Sprout’s exceptionally talented Founder and CEO, and everyone at Sprout to our team.”
Sprout empowers cannabis retailers to acquire new customers, retain existing ones and grow revenues. Sprout’s purpose-built, omni-channel software platform combines all-in-one CRM and marketing, third party integrations, a robust targeted messaging system across text, email and in-app, a loyalty program, compliance modules, and analytics. WM Technology’s acquisition of Sprout strengthens the company’s position between retailers and consumers in the rapidly growing legal cannabis industry.
“We’re incredibly excited to join WM Technology. We look forward to leveraging the breadth and scale of users, retailers and brands on the Weedmaps marketplace to accelerate the reach of Sprout as part of WM Business,” said Jaret Christopher, Founder and CEO of Sprout.
Advisors
Cooley LLP served as legal advisor to WM Technology, Inc. in connection with the acquisition.
About WM Technology, Inc.
WM Technology, Inc.’s (Nasdaq: MAPS) mission is to power a transparent and inclusive global cannabis economy. Now in its second decade, WM Technology has been a driving force behind much of the legislative change we’ve seen in the past 10 years.
Founded in 2008, WM Technology, is a leading technology and software infrastructure provider to the cannabis industry, comprising a B2C platform, Weedmaps, and B2B software, WM Business. The cloud-based SaaS solutions from WM Business provide an end-to-end operating system for cannabis retailers. WM Business’ tools support compliance with the complex, disparate, and constantly evolving regulations applicable to the cannabis industry. Through its website and mobile apps, WM Technology provides consumers with the latest information about cannabis retailers, brands, and products, facilitating product discovery and driving engagement with our retail and brand customers.
WM Technology holds a strong belief in the power of cannabis and the importance of enabling safe, legal access to consumers worldwide. Since inception, WM Technology has worked tirelessly, not only to become the most comprehensive platform for consumers, but to build the software solutions that power businesses compliantly in the space, to advocate for legalization, social equity, and licensing in many jurisdictions, and to facilitate further learning through partnering with subject matter experts on providing detailed, accurate information about the plant.
Headquartered in Irvine, California, WM Technology supports remote work for all eligible employees. Visit us at www.weedmaps.com.
About Sprout
Sprout is a leading cannabis CRM and marketing software platform used by dispensaries and cannabis brands across the United States, Canada and Puerto Rico. Sprout helps cannabis companies increase revenues and improve customer loyalty by engaging their customers, creating brand awareness and driving online and in-store orders. Sprout’s cannabis CRM platform includes an entire suite of omni-channel marketing solutions including customer relationship management, text & email marketing, loyalty, mobile wallets, QR codes, mobile surveys, mobile coupons, advanced customer segmenting and analytics. Visit us at www.sprout.online
Forward-Looking Statements
This press release includes “forward-looking statements” regarding the Company’s future business expectations which involve risks and uncertainties. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding projections of market opportunity and market share and the Company’s expectations about future benefits relating to the Sprout acquisition. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; future global, regional or local economic and market conditions affecting the cannabis industry; the development, effects and enforcement of laws and regulations, including with respect to the cannabis industry; the Company’s ability to successfully capitalize on new and existing cannabis markets, including its ability to successfully monetize its solutions in those markets; the Company’s ability to manage future growth; the Company’s ability to develop new products and solutions, bring them to market in a timely manner, and make enhancements to its platform and the Company’s ability to maintain and grow its two-sided digital network, including its ability to acquire and retain paying customers; the effects of competition on the Company’s future business; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; and those factors discussed in the Company’s registration statement on Form S-4/A filed in connection with the Business Combination on May 25, 2021 and subsequent Form 10-Qs or Form 8-Ks filed with the SEC. If any of these risks materialize or these assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company does not presently know or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward looking statements. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. The Company anticipates that subsequent events and developments will cause the Company’s assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Contacts
Investor Relations:
Greg Stolowitz
gstolowitz@weedmaps.com
Media:
Travis Rexroad
trexroad@weedmaps.com
Sprout CRM’s Rapid Expansion Continues
BOSTON, MA August 14, 2019 – Boston based cannabis software company, Sprout, an all-in-one CRM & marketing platform built for the cannabis and hemp industry today announced it has added its 17th state to the growing list of customers using their platform.
Over the past month, Sprout has realized explosive growth adding companies like the popular Exhale Med Center (www.exhalemedcenter.com) located in West Hollywood, California, Ascend Wellness with locations in Massachusetts, Illinois and Michigan, Flower City CBD Infusions (www.flowercitybev.com) located in Rochester, New York and their newest, who opened their doors this past Friday… The Green Lady (www.thegreenladydispensary.com), Nantucket, Massachusetts’ first adult-use dispensary.
With cannabis clients in 17 states and Canada now utilizing Sprout, as well as soon to be Mexico and Puerto Rico, Sprout has established itself as the industry’s first enterprise CRM solution. Encompassing customer relationship management (CRM), text message marketing (standard and multi-media message capability), email marketing, mobile coupons, mobile surveys, digital kiosks and connectivity to many of the most popular point-of-sale (POS) systems by virtue of their open API for integration.
Cannabis, CBD brands and retail dispensaries are using Sprout to acquire new customers, improve customer loyalty and engage customers in new innovative ways that have a big impact on their revenue and marketing ROI. The Green Room, a dispensary, in Mendo, California has been using Sprout since early this year. “I love using Sprout! Where social media fails, Sprout gets directly to those who have already shown interest in the shop. It’s a very time and cost-effective way to target regular customers”, commented Nate Boucher, Dispensary Manager.
“I love using Sprout! Where social media fails, Sprout gets directly to those who have already shown interest in the shop. It’s a very time and cost-effective way to target regular customers”
With a nationwide network of cannabis brands and dispensaries now enjoying Sprout every day and millions of marketing messages being received by consumers all across the states and abroad, Sprout feels they are establishing their offering as a must have for any dispensary owner or CBD or cannabis brand.
“Sprout has developed an industry-specific, best-in-class CRM that resonates well with cannabis brands, CBD brands and retail dispensaries”, commented Jaret Christopher, CEO of Sprout. “A key part of our overall success is our team’s customer-centric approach and laser focus in building the most robust CRM and marketing platform for the cannabis and CBD industry. We wake up every day grateful for this opportunity and it’s exciting to see how the industry is evolving”, stated Christopher.
About Sprout:
Sprout is the leading CRM and marketing software platform for the cannabis & CBD industry. Sprout helps cannabis & CBD companies increase revenues and profit margins by engaging their customers, creating brand awareness and driving online and in-store orders.
Sprout’s technology platform was developed over ten years and is a best-in-class, enterprise CRM & marketing software platform designed specifically for:
- Retailers & Dispensaries (cannabis, hydroponic stores, CBD retailers, MSOs, etc.)
- Cannabis Distributors & Wholesales
- Cannabis & CBD brands
To learn more about Sprout, visit us online at: www.sprout.online
CONTACT:
Roger Ciliberto
VP of Sales & Marketing
roger@sprout.online
1.888.411.1699
Exclusive Interview with Sprout Founder and CEO Jaret Christopher
Cannabis software company Sprout is active in 13 states and recently launched into two international markets. The company’s underlying technology, built 12 years ago, serves as a CRM platform at its core with a robust suite of sales and marketing tools. Founder and CEO Jaret Christopher spoke with New Cannabis Ventures about the competitive landscape for his company, how Sprout helps cannabis companies grow and how he sees the market evolving.
Over the past 20 years, Christopher has built his career as a serial entrepreneur, building a number of software and SaaS-based businesses. Prior to Sprout, he founded a CRM marketing software company for the banking industry. After a successful exit, he began investing in and advising companies in the Boston area, which led him to the CRM and marketing company that spun out Sprout. The company had a few medical cannabis dispensaries using its software, and after researching the cannabis industry and its growth potential, Christopher acquired the company and recruited his team from former ventures.
The Sprout platform is designed to help cannabis companies and brands acquire new customers and retain existing customers with the help of sales and marketing tools. Cannabis companies can use the company’s digital kiosks in their stores, website integration, and texting features to connect with their customers through product information and rewards. The Sprout platform also collects data that helps cannabis companies and brands build marketing strategies around customer preference and usage patterns.
At this time, Sprout occupies a relatively unique niche in the cannabis space. While the company offers all-in-one CRM and marketing tools, most other cannabis companies in the space are focused on back-office functions like inventory and point-of-sale, according to Christopher. This means the competitive landscape is fairly open for Sprout, and the company actually partners with a number of other software companies, such as Flowhub and Greenbits. Integrating with other software platforms gives cannabis companies and brands access to large amounts of data from the point-of-sale level that can be used to create robust marketing campaigns on the Sprout platform.
When Sprout went into business, its team wanted to work with other leaders in the cannabis space, which led to a strategic partnership with MariMed. Christopher and his team found that multi-state operator MariMed to be a valuable partner in testing the company’s technology and products, an important piece of Sprout’s product roadmap.
With clients like Liberty Health Sciences, Mayflower, Hashtag Cannabis, and Western Bud (to name just a few), Sprout has a diverse range of customers in terms of size. In addition to its 13-state footprint in the U.S., the company has just launched into Canada and Mexico. In the near-term, the company will be focused on those three markets. Right now, the company has 12 employees, but Christopher expects that number to double over the next 12 months as Sprout continues to grow. Looking ahead, the company is focused on enabling their global cannabis company clients to take its enterprise software platform into every country they are doing business.
As a spinoff of a profitable company, Sprout initially had the resources to self-fund. In 2018, the company did a capital raise with participation from strategic partners and high-net-worth individuals. The company is well-funded now, but another a raise later this year is a consideration, according to Christopher.
At the moment, Sprout is focused on execution and expanding market share. The company is experiencing double-digit growth each month and is set to become profitable by the end of the year, according to Christopher.
Sprout is growing quickly, but Christopher and his team are focused on scaling in a strategic manner. As the market evolves, Sprout will maintain the necessary flexibility to keep up. Christopher saw the banking industry shift toward a single system of record, bringing together data managed across multiple systems. He expects the cannabis industry will undergo a similar shift, and Sprout’s centralized CRM system is aiming to be that holistic solution.
April 1st, 2019/ BOSTON, MA/ – Liberty Health Sciences (CSE: LHS) (OTCQX: LHSIF) announced today it has expanded their relationship with Sprout, an all-in-one CRM & marketing platform for the cannabis industry, and has deployed their software across 12 Florida dispensaries. Liberty is using Sprout to build one of the largest consumer databases of medical marijuana patients in Florida and to automate its marketing while driving online orders and in-store purchases.
“Sprout has played a significant role in our growth and is a true technology and data partner. We were looking for a more robust enterprise solution for marketing and CRM and Sprout has proven their ability to deliver on that need”, stated Liberty’s Marketing Manager.
Sprout’s all-in-one CRM, marketing and customer loyalty software combines database management with smart filtering technology making it easy for Liberty to send personalized multi-media text messages and emails to their patients.
“Sprout has played a significant role in our growth and is a true technology and data partner. We were looking for a more robust enterprise solution for marketing and CRM and Sprout has proven their ability to deliver on that need”
Jaret Christopher, CEO of Sprout, commented, “Liberty Health Sciences is one of the fastest growing vertically-integrated cannabis operators in Florida and a great company to work with. We are privileged and excited to help them achieve their patient acquisition and growth objectives.”
About Liberty Health Sciences Inc.
Liberty is the cannabis provider committed to providing a trusted, high quality cannabis experience based on our dedication and genuine care for all cannabis users and a focus on operational excellence from seed to sale and beyond. Liberty’s measured approach to expansion opportunities maximizes returns to shareholders, while keeping consumers’ well-being at the forefront of what we do. For more information, please visit: www.libertyhealthsciences.com.
About Sprout
WM Loyalty, LLC flagship technology, Sprout, is an all-in-one CRM, marketing and customer loyalty platform designed for dispensaries and cannabis brands. Sprout’s easy-to-use CRM and marketing software automates some of the core functions for dispensaries and CPG companies. Sprout clients typically achieve 10x return on their marketing spend to acquire and retain medical and recreational customers. For additional information visit: www.sprout.online
Cannabis Software Company Sprout Expands Internationally into the Canadian and Mexican Markets
Boston, MA/Mexico City, Mexico/Toronto, Canada – March 5th, 2019
Today, Sprout the all-in-one CRM & Marketing Platform for the Cannabis Industry, is announcing two (2) international deals that have opened up the company’s profound abilities to service these markets.
Sprout CEO Jaret Christopher said, “Gaining a foothold in the ever-expanding international cannabis market has been a goal of ours since our inception. By aggressively starting and securing these two international deals we are on course toward achieving our objectives. “
Cannabis & Coffee (www.cannabisandcoffee.com), a Toronto, Canada based café joined the Sprout Platform in early 2019. Cannabis & Coffee utilizes the Sprout texting platform for customer acquisition and subsequent text marketing initiatives to incentivize customers to continue their patronage with their brands. As well, another division of the Cannabis & Coffee family, a cannabis logistics company, utilizes the Sprout mobile landing page offering to send out menu offerings and updates for their services.
Cannabis & Coffee, currently is sending 200,000+ texts per month, has quickly built a text marketing outreach of nearly 20,000 VIP members that they are able to incentivize each day with coupons, offers and automated happy birthday announcements.
Additionally, Farmacias Magistrales (http://farmaciasmagistrales.com.mx), the leading Mexican compounding laboratory with a license to import raw materials containing > 1% THC in Mexico, and Sprout also announced a partnership whereas Farmacias Magistrales will distribute Sprout’s software exclusively within the Mexican cannabis market.
“Working with a cutting-edge software company like Sprout, will allow our pharmacies to have a frictionless way in collecting patient data, as well as a tool to help educate doctors on the benefits of using and prescribing cannabis”
With this partnership, Sprout becomes the 1st cannabis CRM software company to enter the Mexican market.
Farmacias Magistrales and Sprout are working together to install its CRM and marketing software in several Mexican pharmacies and have an aggressive plan in place to roll the Sprout solution to many more locations.
Magistrales CEO, Erick Fanghanel said, “Working with a cutting-edge software company like Sprout, will allow our pharmacies to have a frictionless way in collecting patient data, as well as a tool to help educate doctors on the benefits of using and prescribing cannabis”.
Over the next few months, the Sprout solution will be installed at pharmacies and retail locations throughout Mexico City, allowing these pharmacies and retailers easy access to information which will allow them to educate patients and doctors alike.
About Sprout
WM Loyalty, LLC flagship technology, Sprout, is an all-in-one CRM and marketing software designed for dispensaries and cannabis brands. Sprout’s easy-to-use CRM and marketing software automates some of the core functions for dispensaries and CPG companies. Sprout clients typically achieve 10x return on their marketing spend to acquire and retain medical and recreational customers.
For additional information visit: www.sprout.online
About MariMed Inc.:
MariMed is a multi-state professional cannabis organization that develops, owns and manages cannabis facilities and branded products lines. MariMed’s team has developed state-of-the-art regulatory-compliant facilities in DE, IL, NV, MD, MA, and RI, which are models of excellence in horticultural principals, cannabis production, product development, and dispensary operations. In addition, MariMed is on the forefront of precision-dosed branded products for the treatment of specific medical symptoms. MariMed currently distributes its branded products in select states and is expanding licensing and distribution to numerous additional markets encompassing thousands of dispensaries. MariMed Inc. is one of the 17 top-performing public cannabis companies in the U.S. tracked on the U.S. Marijuana Index, (www.marijuanaindex.com). For additional information, visit www.MariMedAdvisors.com
Sprout Selects Ciliberto to Lead Sales Organization
October 1st, 2018/Boston, MA/ – Sprout, the all-in-one CRM & marketing platform for the cannabis industry has selected SaaS industry veteran Roger Ciliberto to their new Vice President of Sales role. Ciliberto who has built several sales teams across multiple verticals, brings deep knowledge of the SaaS space and a process minded approach that has proven to be successful at multiple stops. “I have become extremely comfortable at launching sales organizations and putting the processes in place to put new sales organizations on a successful path”, said Ciliberto. “Given an opportunity to work in such a hot vertical with a proven product, and at an early stage company was something I could not pass up”.
Ciliberto will 
be tasked with scaling the Sprout sales team and leveraging the newly announced partnership with MariMed (OTC: MRMD) and quickly creating new revenue opportunities for the company.
Said Sprout CEO, Jaret Christopher, “Roger is a seasoned sales leader with the proven track record. We were excited to be able to get him on board and we look forward to his immediate contribution”.
“The cannabis industry as a whole is set to explode, and Sprout is setup to capitalize with a great product that satisfies a need that every marketing focused decision maker will quickly see is a solution they cannot do without.”
Ciliberto has spent the last several years leading start up organizations such as TrueAdvantage, NetBrain Technologies and most recently Companybook, as well as more established companies OneSource Information and Aberdeen Group. He has also consulted at several stops with his own consulting practice, 3LConsulting Group. He recently published a book, Ketchup for Your Sales Process, which speaks to unique ways to open doors as a sales professional.
He added, “The cannabis industry as a whole is set to explode, and Sprout is setup to capitalize with a great product that satisfies a need that every marketing focused decision maker will quickly see is a solution they cannot do without.”
He will began his new role officially, October 8th, 2018.
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About Sprout
WM Loyalty, LLC flagship technology, Sprout, is an all-in-one CRM and marketing software designed for dispensaries and cannabis brands. Sprout’s easy-to-use CRM and marketing software automates some of the core functions for dispensaries and CPG companies. Sprout clients typically achieve 10x return on their marketing spend to acquire and retain medical and recreational customers.
For additional information visit: www.sprout.online