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Dama to Acquire Candid AI Platform, Continuing to Build Full Suite of Integrated SaaS Solutions for the Cannabis Industry
Wednesday, November 1, 2023
Unrivaled technology platform takes the guesswork out of ordering cannabis for the consumer, follows Dama's previous acquisition of GrowFlow
SAN BRUNO, Calif., Oct. 24, 2023 /PRNewswire/ -- Dama, the nation's largest provider of access to banking and payment solutions for the cannabis industry, has entered into an agreement to acquire Candid AI, a digital e-commerce platform that makes personal product recommendations.
Following their acquisition of GrowFlow, a leading seed-to-sale software platform, Dama welcomes Candid AI into their growing suite of tech operations solutions. Candid will integrate seamlessly with GrowFlow and Dama's retail point of sale, providing consumers with access to consistent, accurate product recommendations both online and in-store. Together, Dama and Candid will take the guesswork out of ordering cannabis.
"Candid's unique virtual budtender doesn't just offer tech, it offers a personal touch that gives tailored recommendations to every consumer," said Patrick O'Boyle, CEO of Dama. "Through the integration of Candid with Dama's comprehensive solutions, we're making it even easier for cannabis businesses to understand their business metrics and flourish. Our goal has always been to simplify things for our clients, letting them concentrate on what they do best: growing their businesses."
"We're ecstatic to unite with Dama and GrowFlow, amplifying our mission to redefine cannabis tech," said Nathan Darazio, co-founder of Candid AI. "Together, we offer operators a complete ecosystem, empowering them with tailored solutions from cultivation to POS, integrated payments and loyalty. Candid's AI-powered budtender in the menu is just the beginning: get ready for the future of hyper-personalized, modern commerce solutions and a whole new way for brands to reach their ideal consumers."
In an industry with fragmented access to solutions, most cannabis operators use multiple systems to manage their day-to-day business. Dama aims to unify operations under one roof, building a full-stack solution for each type of cannabis operator. Beginning with banking and payments products and expanding to seed-to-sale and POS software, Dama now extends its offerings to e-commerce with Candid AI, allowing all GrowFlow retailers to create customizable, data-driven online menus with an industry-leading consumer recommendation algorithm.
About Dama
Based in San Bruno, Calif, Dama is the cannabis industry's leading provider of access to banking and financial services, powering safe and secure depository solutions for top licensed cannabis operators throughout the United States as well as providing access to electronic consumer payment solutions. The company was founded in 2017 by a team of world-class fintech and payments executives to provide high-risk industries with critical access to fundamental financial solutions. In 2022, Dama acquired Growflow, a SaaS seed-to-sale POS, and whose business management and compliance tools have processed more than $3.3 billion for cannabis businesses. Dama has leveraged its experience in other unbanked categories to develop solutions, driven by its proprietary technology platform, capable of navigating a complex web of regulatory and compliance requirements.
Media contact:
MATTIO Communications
dama@mattio.com
View original content:https://www.prnewswire.com/news-releases/dama-to-acquire-candid-ai-platform-continuing-to-build-full-suite-of-integrated-saas-solutions-for-the-cannabis-industry-301965382.html
SOURCE Dama
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