Akerna Inks Deal with PAX Labs

DENVER, Feb. 05, 2020 (GLOBE NEWSWIRE) — Akerna (Nasdaq: KERN), a global regulatory compliance technology company in the cannabis space, has completed an agreement with PAX Labs, an award-winning consumer technology brand, to help the company better understand its customers and derive actionable insights to improve the customer experience. PAX has implemented Akerna’s Business Intelligence and API solution which is a new Akerna Infrastructure as a Service tool (IAS) offering launched in July 2019.

“We are committed to product quality, and we aim to be good stewards for a product and movement that enhances many people’s lives,” said Ron Buel, vice president of software. “In evaluating and ultimately signing-up with Akerna, we recognized an opportunity to use the robustness of their single source, normalized panels, and near real-time analytics to improve how we connect with our customers, access vendor insights and better understand consumer and supply chain trends.”

Since 2010, Akerna has tracked more than $17 billion in cannabis sales.

“Real analytics and business intelligence has been hard to obtain for cannabis businesses, investors, and governments. As the industry both expands in size and consolidates in terms of the number of businesses, smarter professionals will demand analytics to make better business decisions,” said Jessica Billingsley, chief executive officer, Akerna. “Being able to deliver supply chain analytics through to and including the consumer, becomes critical for stakeholders, like PAX, who are looking to make the right decisions and improve customer outcomes. We believe our new IAS or Business Intelligence offering and API can be used by many of our customers who we expect to adopt the technology over time.”

Key Facts:

• Akerna has tracked $17 billion in cannabis sales across 33 states. The company has statistical relevance at the total U.S. retail level and is the only company with cannabis supply chain analytics able to track consumer demographic insights at the point of sale.
• As part of its work with PAX, Akerna captured multiple compliance insights, including, multi-dimensional analysis that made the offering unique.
• Using Akerna’s Infrastructure as a Service tool, PAX received actionable insights that resulted in PAX entering into new markets.
• One measure, “What’s in Your Basket,” also changed how PAX incentivizes and prices particular products. Understanding what other products were sold with PAX products, also opened up new product partnerships.

Akerna launched its Business Intelligence and API solution in July 2019. To date, the company has worked with businesses using Infrastructure as a Service to drive better decision making and improve customer-centric experiences. Akerna has a growing pipeline of customers interested in the offering.

About Akerna

Akerna is a global regulatory compliance technology company in the cannabis space. Akerna’s service offerings include MJ Platform®, Leaf Data Systems®, and solo sciences tech platform. Since its establishment in 2010, the company has tracked more than $17 billion in cannabis sales. As part of its business strategy, Akerna intends to grow through targeted, strategic acquisitions that are complementary to its current business and organically by accelerating its product development efforts. Akerna is based in Denver. For more information, please visit www.akerna.com.

Forward-Looking Statements

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