New Frontier Data, a cannabis industry research and analytics firm, is partnering with social media and technology platform MassRoots on a project to “elevate digital marketing practices and better understand social consumer behavior.” New Frontier’s data engine will enable MassRoots to “aggregate, analyze and monetize the large volume of consumer engagement data” it collects through its mobile application and web portal.
MassRoots CEO Scott Kveton said the partnership helps the company move “beyond the social media platform.”
“This industry has evolved from a movement into a thriving market that is hungry for data to serve its shareholders and consumers,” he said in a press release. “Only through the data analytics provided by New Frontier Data and our understanding of our community can we believe we can move this emerging market and pioneering platform forward.”
Giadha Aguirre De Carcer, CEO and founder of New Frontier Data, said that both companies will use the opportunity to learn from MassRoots’ 3 million members in an effort to educate brands and investors.
“It is an exciting time in the cannabis industry whereby large financial, research, and consumer-focused enterprises are now looking to understand risks and opportunities stemming from this booming industry,” he said in a statement.
New Frontier’s partnership with MassRoots is its fifth since October when it announced it would work with CohnReznick – one of the largest accounting, tax, and advisory firms in the US – on tackling tax and risk management issues in the cannabis space. Earlier this month the company announced partnerships with Hoban Law, Steep Hill, and Simplifya focused on legal, testing, and operational issues, respectively.