- Accelerates growth of Sprout’s comprehensive CRM & marketing software platform
- Provides features and functions to expand growth of MariMed brands into new markets
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.”