Scott Dowty reports
COCOON TECHNOLOGY SIGNS EXCLUSIVE AGREEMENT WITH THRIVE CANNABIS MARKETPLACE, NEVADA'S LARGEST INDEPENDENT DISPENSARY CHAIN
Australis Capital Inc.'s (AUSA) Cocoon Technology LLC, including CocoonPod and CocoonRewards, has entered into a four-year agreement with THRIVE Cannabis Marketplace. Through this agreement, Cocoon will become the exclusive self-service technology provider for THRIVE.
THRIVE, Nevada's largest independent dispensary chain, will install CocoonPod kiosks in its eight existing and newly approved locations across Nevada, starting in late Q1 2020. Built on a cloud-based, self-service fulfilment platform, CocoonPod features consumer-facing kiosks as stand-alone units or multiunit pods as the core consumer point of interaction, coupled with a consumer mobile application and tablet for employee-assisted self-service transactions. THRIVE customers will be able to verify identification, research products, place orders, order ahead, auto repeat orders, gain loyalty rewards with CocoonRewards, make payments with cash or bank cards, and make charitable contributions directly through the kiosk or mobile application.
"THRIVE is clearly positioned as the vanguard in the industry, leveraging their deep understanding and experience in building some of the greatest brands in the U.S. cannabis space today," states Scott Dowty, chief executive officer of AUSA. "Their commitment to technology and process maximizes operational efficiencies, with a keen focus on ensuring the customer experience is always top of mind and is the ideal environment for Cocoon to have an immediate and material impact. The Cocoon model delivers recurring software revenue, recurring maintenance fee revenue, one-time hardware revenue and development revenue as we work with our partners to customize their applications to best suit their unique requirements."
Cocoon's PAAS incorporates the most robust customer-facing omni-commerce technology, including kiosks and mobile applications interfaced with the most popular ERP systems and payment portals, and is custom developed to support unique regulatory compliance requirements and privacy legislation by jurisdiction. CocoonPod kiosks provide maximum convenience to new and returning customers; a private experience; vibrant and consumer-friendly user interfaces, custom screen flows, call to action offers and advertising options; quick reading code and marketing redemption; ability to accept, recycle and reconcile cash; and a powerful proprietary loyalty platform with customization options and remote real-time data analytics.
"We have been searching for a technology solution to streamline our expanding operations and are always pushing to improve our customer's experience," said Mitch Britten, chief executive officer of THRIVE. "Cocoon will enable THRIVE to further position our operations and brands at the forefront of the industry as we leverage self-service technology across the enterprise delivering cost-savings and increased revenue."
Experience CocoonPod demonstrations with integrated CocoonRewards at MJBiz Con Las Vegas from Dec. 11 to 13, 2019, at the Australis Capital booth, C3222.
About Australis Capital Inc.
AUSA operates and builds transformative, differentiated cannabis companies predominantly in the United States, a highly regulated, fragmented and rapidly expanding industry. AUSA adheres to stringent evaluation and operating criteria focusing on high-quality opportunities while maintaining a steadfast commitment to governance and community.
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