Akerna Makes Strategic Investment in ZolTrain
October 24 2019 - 8:00AM
Akerna (NASDAQ: KERN), a leading cannabis compliance technology
company, has made a strategic investment in ZolTrain, a training
platform built for the mobile world. The investment puts cannabis
brand training in the palm of the budtender’s hand and provides
information at the point of sale through MJ Platform, the tracking
and compliance technology solution used by Akerna customers.
“Our strategy at Akerna is to accelerate our organic growth with
strategic acquisitions and investments that are complementary to
our business and drive recurring revenue. ZolTrain is the first of
these investments,” said Jessica Billingsley, chief executive
officer, Akerna. “ZolTrain is important to the maturation of the
industry, enabling greater consumer, product, and public safety
through education. MJ Platform is the only technology solution that
can address tracking and compliance and, through our investment in
ZolTrain, improve the customer experience by pairing education with
product information at the point of sale.”
Budtenders are the crucial link between cannabis brands,
compliance, and sales.
“As a dispensary owner, I was struck by the challenges of not
only keeping my budtenders and staff up to date on brand
information but also engaged with the content. Depending on the
dispensary, a budtender can be working with anywhere from 200 to
1,000 products. It would be impossible to maintain that much
product information,” said Jan Cole, founder, ZolTrain. “Now, with
this integrated solution, a budtender can take a tutorial in less
than sixty seconds on their smartphone and have access to product
information through MJ Platform at the point of sale. In my
experience, an educated budtender, making the right recommendations
to customers, facilitates compliance and drives loyalty.”
Key Facts:
- 90% of purchase decisions are controlled by the retail
employee, the budtender. Budtenders are the gatekeepers between the
brand and the consumer. Their knowledge and recommendations have a
direct impact on customer satisfaction.
- By integrating ZolTrain with MJ Platform, Akerna customers can
educate budtenders, track their training and have a resource at the
point of sale.
- According to the Association for Talent
Development, companies with training programs have a 218%
higher income per employee than companies without formalized
training and see a 24% higher profit margin.
- MJ Platform users can sign up for Zoltrain now. The integration
with MJ Platform will be completed in December.
About Akerna Corp. Akerna (NASDAQ: KERN) is a
global regulatory compliance technology company in the cannabis
space. The cornerstones of Akerna’s service offerings are MJ
Platform® and Leaf Data Systems®, highly-versatile platforms
that provide clients and government entities with a central data
management system for tracking regulated cannabis products—from
seed to product to shelf to customer—through the complete supply
chain. Since its establishment in 2010, the company has tracked
more than $16 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.
Forward-Looking Statements Certain statements
made in this release and in any accompanying statements by
management are “forward-looking statements” within the meaning of
the “safe harbor” provisions of the United States Private
Securities Litigation Reform Act of 1995. When used in this press
release, the words “estimates,” “projected,” “expects,”
“anticipates,” “forecasts,” “plans,” “intends,” “believes,”
“seeks,” “may,” “will,” “should,” “future,” “propose” and
variations of these words or similar expressions (or the negative
versions of such words or expressions) are intended to identify
forward-looking statements. These forward-looking statements are
not guarantees of future performance, conditions or results, and
involve a number of significant known and unknown risks,
uncertainties, assumptions and other important factors, many of
which are outside Akerna’s control, that could cause actual results
or outcomes (including, without limitation, the results of Akerna’s
contracts, strategic initiatives and business plans as described
herein) to differ materially from those discussed in the
forward-looking statements. Important factors, among others, that
may affect actual results or outcomes include (i) Akerna’s ability
to recognize the anticipated benefits of being a public company,
(ii) competition, (iii) Akerna’s ability to grow and manage growth
profitably, (iv) Akerna’s ability to maintain relationships with
customers and suppliers and retain its management and key
employees, (v) costs related to being a public company, (vi)
changes in applicable laws or regulations, (vii) Akerna’s ability
to identify and integrate acquisitions and achieve expected
synergies and operating efficiencies in connection with acquired
businesses, (viii) and other risks and uncertainties disclosed from
time to time in Akerna’s filings with the U.S. Securities and
Exchange Commission, including those under “Risk Factors”
therein. Actual results, performance or achievements may
differ materially, and potentially adversely, from any projections
and forward-looking statements and the assumptions on which those
vary from forward-looking statements are based. There can be no
assurance that the data contained herein is reflective of future
performance to any degree. You are cautioned not to place undue
reliance on forward-looking statements as a predictor of future
performance as projected financial and other information, are based
on estimates and assumptions that are inherently subject to various
significant risks, uncertainties and other factors, many of which
are beyond Akerna’s control. All information herein speaks only as
of the date hereof, in the case of information about Akerna, or the
date of such information, in the case of information from persons
other than Akerna. Akerna undertakes no duty to update or revise
the information contained herein. Forecasts and estimates regarding
Akerna’s industry and end markets are based on sources believed to
be reliable; however there can be no assurance these forecasts and
estimates will prove accurate in whole or in part.
Media Contact: |
Investor Contact: |
D. Nikki Wheeler |
Jason Assad |
303-514-2012 |
678-570-6791 |
Nikki.Wheeler@Akerna.Com |
Jason.Assad@Akerna.Com |
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