🎙️ Podcast: Alpine IQ – CEO, Nick Paschal and CRO, West Paschal
Alpine IQ works with cannabis-specific third-parties to power loyalty, mobile apps, text messaging, POS, marketing automation, referral programs, store review automation, in-store screens, & more
I published the Spotify link for the Alpine IQ podcast earlier this month but wanted to also include the write-up given interest from readers.
Company Overview. Alpine IQ was founded in 2019 in order to solve cannabis market problems for retailers and cultivators. At its inception, Alpine IQ developed a tool to manage customer data compliance across multi-strategy/provincial regulatory environments. This concept later sprouted organically into a full suite of tools to protect, segment, promote, and sync consumer experiences both in-store and online. The Alpine product lineup includes many components that work seamlessly together on top of cannabis-specific third-parties to power loyalty, mobile apps, text messaging, point of sale, marketing automation, referral programs, store review automation, in-store screens, and more. The company has 50+ employees today (from 5 in January 2021), with 25+ in customer success, 20+ employees in engineering & sales, and 5 in marketing.
Background & Founding. Nick Paschal built and sold Meteora (August 2016), an advertising technology company that specialized in customized audience targeting by harvesting site traffic into segmented audiences for highly specific ads across the web. West Paschal was working at Tilray in Business Development (where we actually met when I was at Left Coast Ventures). West identified key problems with regards to data across provinces and Nick and their CTO, Shahzil Abid, started coding in July 2019. West’s relationship with Canadian cannabis companies helped land the company some of their earliest customers—the platform was built for the Canadian retail market because Canadian regulations are built in such a way that if a platform could handle their rules, communications and data management, it made entering future markets easier.
Brands Analytics: Customer Lifecycle. Through AI and predictive analytics, you can see which customers are at risk of becoming inactive customers for your brand. Then, you can send automated personalized, real-time marketing campaigns that keep you top of mind to bring customers back to shopping for your brand.
Co-Marketing: Recipes. Pre-configure go-to-market messaging campaign drips for your retail partners to easily launch via “AIQ Recipes”.
Collectible Products. Make every product an interactive collectible through AIQs QR generator. Reward your customers with loyalty points based on product rarity. Drive customers back to partner retailers by converting points into retailer gift cards.
Sales Enablement. Easily find new sales opportunities through our partner discovery portal & gain insights into how your brand products compare against the market.
Nick Paschal on LinkedIn. Nick doesn’t shy away from commenting on anything he disagrees with or calling attention to cannabis tech issues he disagrees with.
Funding. The Company has raised ~$2.5M from mostly friends & family. The company is profitable today and is funding growth with its own cash at this point.
👋 The Highly Objective Podcast is hosted by Dai Truong, who leads Cannabis Investment Banking at Arlington Capital Advisors.. Third-party information presented here and links to third-party content are for informational purposes only and are not intended as a recommendation, offer or solicitation for the purchase or sale of any financial instrument, security or investment. The information provided is not warranted as to completeness or accuracy and is subject to change without notice. Linking to third-party sites in no way implies an endorsement or affiliation of any kind between Arlington Capital Advisors, LLC, or its affiliates and any third party. The information in this blog constitutes my own opinions (and any opinions posted by guest bloggers from time to time) and it should not be regarded as a description of services provided by Arlington Capital Advisors, LLC or any affiliate.