About Prelude
Prelude is a company based in New York (United States) founded in 2021 by Michael E Murphy. It operates as a SaaS (Software-as-a-Service), and Freemium. Prelude has raised $10.51 million across 3 funding rounds from investors including Rackhouse Venture Capital and Casa Verde. Prelude offers products and services including Cannabis Inventory Management Software and Dispensary AI. Prelude operates in a competitive market with competitors including Dispense, Flowhub, GreenSTOP, WebJoint and Growthsayer, among others.
- Headquarter New York, United States
- Founders Michael E Murphy
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Sectors
Healthcare
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Phone
*********
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Website
*********
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Social
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- Legal Name Prelude Products Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$10.51 M (USD)
in 3 rounds
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Latest Funding Round
$5.2 M (USD), Seed
Nov 28, 2023
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Investors
Rackhouse Venture Capital
& 1 more
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Employee Count
Employee Count
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Products & Services of Prelude
Prelude offers a comprehensive portfolio of products and services, including Cannabis Inventory Management Software and Dispensary AI. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Inventory management for cannabis dispensaries is optimized efficiently.
AI-driven insights for dispensaries are provided for profitability.
Funding Insights of Prelude
Prelude has successfully raised a total of $10.51M across 3 strategic funding rounds. The most recent funding activity was a Seed round of $5.2 million completed in November 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Seed — $5.2M
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First Round
First Round
(11 Jan 2022)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2023 | Amount | Seed - Prelude | Valuation | Rackhouse Ventures , Casa Verde Capital |
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| Sep, 2023 | Amount | Seed - Prelude | Valuation |
investors |
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| Jan, 2022 | Amount | Seed - Prelude | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Prelude
Prelude has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include Rackhouse Venture Capital and Casa Verde. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage venture capital is provided by Rackhouse Venture Capital.
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Founded Year | Domain | Location | |
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Investment in cannabis industry startups is facilitated by Casa Verde.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Prelude
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Prelude
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Prelude Comparisons
Competitors of Prelude
Prelude operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Dispense, Flowhub, GreenSTOP, WebJoint and Growthsayer, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
A digital platform for cannabis dispensary management is provided.
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| domain | founded_year | HQ Location |
Provider of software suite solutions for cannabis stores
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| domain | founded_year | HQ Location |
Automated cannabis vending machines are developed for dispensaries.
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| domain | founded_year | HQ Location |
Cloud-based cannabis delivery platform is offered for dispensaries and brands.
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| domain | founded_year | HQ Location |
AI-based inventory management software is offered for cannabis dispensaries.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Prelude
Frequently Asked Questions about Prelude
When was Prelude founded?
Prelude was founded in 2021 and raised its 1st funding round 1 year after it was founded.
Where is Prelude located?
Prelude is headquartered in New York, United States. It is registered at New York, New York, United States.
Is Prelude a funded company?
Prelude is a funded company, having raised a total of $10.51M across 3 funding rounds to date. The company's 1st funding round was a Seed of $2.61M, raised on Jan 11, 2022.
What does Prelude do?
Inventory optimization and AI-driven solutions for cannabis dispensaries are offered by Prelude. Operations in the cannabis sector are streamlined through automated purchase orders and demand forecasting. Challenges like overstocking and stock-outs are addressed with data-driven insights. Profitability is enhanced by reducing inventory costs and manual errors. Services cater to dispensary owners and buyers seeking efficiency. The focus is on increasing gross margins while minimizing operational overheads.
Who are the top competitors of Prelude?
What products or services does Prelude offer?
Prelude offers Cannabis Inventory Management Software and Dispensary AI.
Who are Prelude's investors?
Prelude has 2 investors. Key investors include Rackhouse Venture Capital, and Casa Verde.