13 new fundings; $257M+ invested in NYC startups this past week along with two exits. NYC Tech News for the week ending 8/14 featuring news for FireHydrant, Curacity, and much, much more.
Cannabis sales eclipsed $17B in 2020, setting a new record for annual sales and the economic impact of the marijuana industry is expected to surpass $92B in 2021. CAGR for annual sales is estimated to be at least 20%+ by most estimated until 2030 with more and more jurisdictions, including New York, moving towards legalization. Sophisticated specialized services to cater to the needs of cannabis brands and businesses are emerging to address this nascent but ballooning market. Surfside is an end-to-end customer acquisition platform built specifically to address the needs of the cannabis industry. The company prioritizes the collection, use, and synthesis of first-party data to power its customer data platform and layers that data with its demand-side platform to power tailored campaigns across all devices. As a result of regulatory restrictions, cannabis businesses are not able to effectively leverage conventional advertising means and Surfside provides a packaged, unifying, and compliant solution to build and scale demand generation. The company now has over 1,000 dispensaries and over 100 brands using the platform. AlleyWatch caught up with Cofounder Jon Lowen to learn more about the inspiration for the business, the company’s strategic plans, and recent round of funding from Casa Verde Capital.
6 new fundings totaling $90M+ including one deal that you will not read about anywhere else for a company that is saving the planet. The latest venture capital, seed, pre-seed, and angel deals for NYC startups for 8/10/2021 featuring funding details for FireHydrant, Surfside, and much more