MariMed Completes Strategic Investment in Sprout
- Accelerates growth of Sprout’s comprehensive CRM & marketing software platform
- Provides features and functions to expand growth of MariMed brands into new markets
BOSTON, MA and Newton, MA, Sept. 27, 2018 (GLOBE NEWSWIRE) — MariMed, Inc. (OTCQB: MRMD), a professional cannabis organization that develops cannabis facilities and brands of cannabis infused products in multiple states throughout the US, announced today it had consummated its strategic investment in Sprout, an all-in-one CRM and marketing software company for marijuana dispensaries and cannabis brands. This completes the previously announced MariMed LOI for investment in Cannabis Venture Partners, parent company of Sprout.
Sprout’s CRM and marketing automation software combines technology, data and content to help dispensaries and cannabis brands increase sales, improve customer loyalty and reach more customers. MariMed intends to accelerate the growth of Sprout’s client base by marketing it to the top dispensaries and cannabis companies in the United States.
“The cannabis industry needs a comprehensive software solution which integrates a full featured CRM engine and platform for marketing, education, and analysis for brands, dispensaries, educators, and researchers,” said MariMed CEO Robert Fireman. “The Sprout platform has the foundation for these functions and more. MariMed will work with the Sprout team to make this software the best for the cannabis industry. This product enables MariMed to provide a bundled technology solution for its brands, facilities, and strategic partnerships incorporating both B2B and B2C communications.”
“This important investment enables Sprout to ramp up marketing efforts and expand our team to accelerate growth into new states and countries and build a global network of cannabis retailers,” said Sprout CEO Jaret Christopher. “With this funding, we also will continue integration with Point of Sale/Seed to Sale systems and other party integrations. We’re excited about tapping MariMed’s thought leadership and using them as a test environment for new features, further strengthening Sprout’s product offering.”
About Sprout
MembersRSVP, 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