Co-Founder and CEO Nicholas Paschal sat down with New Cannabis Ventures to talk about the Alpine IQ platform, market reach and growing as a profitable company.
Their father had a family business in the 1990s, and the two brothers saw the opportunity to continue in his footsteps by working together on a solution for the cannabis industry.
The company has a couple of different pricing models based on the number of stores or by the number of tracked users or transactions that it ingests through its data funnels, according to Paschal.
The company integrates with most of the cannabis technology stack, including point-of-sale and ecommerce systems. Alpine IQ can also integrate with technology beyond the cannabis space.
This product will give brands insight into how they are performing in retail outlets and enable them to leverage performance drivers, such as loyalty programs and collectible products.
state with a medical or recreational program, as well as all Canadian provinces with a cannabis market.
Native Roots in Colorado was its first key client in the U.S., and today, it works with six of the top 10 MSOs, according to Paschal.
Some companies were building solutions in the marketing sector but nothing that solved operational business challenges with data like Alpine IQ, according to Paschal.
They are starting to look at companies outside of the cannabis space as their main competition.
Thus far, Alpine IQ has raised only a small amount of capital, approximately $2.5 million from convertible notes and a seed round.
A partner could take the company to the next level in the cannabis space or possibly into other high-risk industries, according to Paschal.
The team is aiming to hit north of a $24 million annual run rate by December of this year, according to Paschal.
The launch of the new company’s new brand products, as well as retail growth, will be key as Alpine IQ works toward meeting its revenue goals by December.