🎙️ Podcast: springbig CEO, Jeffrey Harris

The founding story & pivot to Cannabis Loyalty, revisiting Seed/Series A/Series B funding rounds, why the company chose to go public now via the Tuatara SPAC, and what's next

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Springbig announced earlier this week that they were going public by merging into the Tuatara SPAC. I caught up with CEO, Jeffrey Harris, to revisit the founding story, previous funding rounds, and where the company is headed:

Highlights:

  • Started in 2014 as loyalty solution (digital punch cards) for retailers

  • Pivoted in 2016 after seeing two Cannabis retailers on the platform and spending 5-10x ($1,000-$2,000/month) more than other retailers on the platform

  • Raised $3.2M Seed (December 2017) led by Mike Gamson (Venture Partner at Next Play Ventures), Green Acre Capital and HALLEY Venture Partners also invested

  • Raised $5M Series A (December 2018) led by Altitude Investment Management

  • Raised $11.5M Series B (August 2020) led by TVC Capital, which seems to have a thesis around Cannabis software (also invested in GrowFlow around the same time)


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