The cannabis-related tech company, Enlighten, has swiftly come up as a huge player in the industry in a short amount of time. Just recently they announced a partnership with several other technology companies in order to expand their business diversity and open up avenues to new enterprise-level solutions.
As part of its rapid expansion effort, Enlighten has merged the Eyechronic network, a well-known in-dispensary education platform, into a suite of products. Enlighten has also acquired certain assets of greenlite.io, including portions of its dispensary and non-dispensary portfolio. Enlighten, with the Eyechronic network under its umbrella, will be able to provide cannabis venues with a full technological ecosystem to easily train staff, advertise brands and drive sales.
Enlighten's technology solutions include interactive signage to inform and educate customers or employees, a retail analytics portal, integrated technology solutions to aggregate and systemize product offerings and internal operations, and tailored marketing solutions for product brands.
The company's engagement focused approach helps its location partners match the look and feel of modern technology-driven facilities, while maintaining a unique identity, to educate its target audience and increase revenue almost immediately. However, it is not just cannabis locations that benefit from the company's emergence. Enlighten offers brands across the country with the unique ability to reach a targeted demographic with engaging advertisement right at the point of sale.
"We have been working with this team for a while now in the build out of our dispensaries and are excited to continue to see new and innovative product offerings as the company grows," Gretchen McCarthy, VP Dispensary Operations & Development at Palliatech Inc.
Enlighten, said to be the first full scale enterprise solution in the cannabis space, is already working with over 650 cannabis businesses, including dispensaries, cultivators and producers, head shops, cannabis lounges and medical facilities. One such business collaboration recently announced is with Novus Cannabis MedPlan, a health plan carrier. Enlighten's technologies will help educate and connect consumers with reliable and affordable meds in dispensaries around the nation through Novus' benefit packages.
"With a young, but rapidly growing industry, consolidation and inorganic growth are not only inevitable, but extremely beneficial for the companies that build a stronghold through an intelligent acquisition strategy. We are going to be very aggressive in looking at a number of strategic acquisitions as we continue to expand in 2018," stated Colby McKenzie, a former M&A attorney and co-founder of Eyechronic who will now head Enlighten's strategic growth and acquisition strategy.
With millions in growth capital and Tuatara Capital, L.P. and Altitude Investment Management, LLC, Enlighten's two largest investors, committed to the long term expansion of the company, Enlighten is poised to rapidly expand its footprint in the cannabis space.
Edited by K. Fanning
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