Flowhub Announces $23 Million in Series A Funding Led by e.ventures, Evolv Ventures and Poseidon


2019-10-21 11:25:27 CFN Media Group


DENVER, Colo., Oct. 15, 2019 /PRNewswire/ — Flowhub, the leading cannabis retail management platform for modern dispensaries, today announced it has raised an oversubscribed $23 million Series A financing round led by e.ventures, Evolv Ventures — the venture fund backed by Kraft Heinz — and Poseidon, with contributions from investors 9Yards Capital, former NBA commissioner David Stern and Iqram Magdon-Ismail, the co-founder and former CEO of Venmo, among others. As one of the largest Series A rounds in the cannabis tech industry, this investment is set to position the company as the SaaS solution of choice for solving today’s complex cannabis retail challenges. With the legal cannabis market expected to reach over $66 billion by 2025, dispensaries are expanding across the U.S. to fulfill the growing need for medicinal and adult-use cannabis. To maintain a successful, legal and compliant operation, these companies need a strategic partner like Flowhub to help them continue to scale their operations to keep up with consumer demands as well as evolving state regulations. “What we are experiencing right now is an end to cannabis prohibition and Flowhub is on the front lines of this movement,” said Kyle Sherman, founder and CEO, Flowhub. “Every legal transaction completed with the Flowhub retail platform is a positive step forward, and we are committed to helping our customers build thriving cannabis businesses. With this investment, we will continue to automate the cannabis supply chain, retail and reporting processes and bring to market technology solutions that are not only shaping the cannabis retail business, but also driving forward the future of legalization and de-stigmatization.” Flowhub has experienced tremendous growth over the last year, increasing revenue by 200 percent and doubling its customer base across 11 markets, which includes household brands like Cookies, Dr. Greenthumb’s, Green Dragon, Nectar and Starbuds. The company also added strategic roles to its executive team — including SaaS enterprise tech leader Dave Smith as CRO — grew its female leadership across key strategic business roles such as marketing, product management and finance and has already increased headcount by 50 percent in 2019. Flowhub also recently announced its new headquarters at the former Slack HQ near downtown Denver’s Union Station and three satellite offices to support continued expansion efforts. “We are excited to join Flowhub at such a crucial time in the company’s overall growth journey,” said Jett Fein, partner, e.ventures. “As the demand for legal cannabis products rises across the U.S., Flowhub is focused on using technology to advance the future of the cannabis industry, and has built a cloud platform with a suite of applications that enables dispensaries to provide superior and tailored consumer retail experiences in this highly regulated industry. We support their mission and look forward to their continued success.” On the heels of this announcement, the company debuted significant enhancements to the Flowhub platform making it even easier for customers to run and grow their dispensaries. These platform enhancements include the Stash app, the industry’s first mobile inventory management solution that maximizes efficiency and accuracy, the Cashier app for enhanced front-of-house point-of-sale capabilities with iPad/tablet compatibility, Specials engine for managing discounts across all stores and Order Ahead with integration partner Dutchie for a streamlined in-store pick up process. Flowhub also added new technology integrations with LeafBuyer and Leafly as part of its commitment to creating a robust partner ecosystem that enables customers to build their own custom cannabis tool stack. “Cannabis is not an industry that you just jump right into,” said Emily Paxhia, managing director, Poseidon. “The compliance and regulation aspects make this a unique industry and Flowhub is one of the leading cannabis tech companies that is taking a meticulous and strategic approach. We saw the potential for Flowhub’s technology and mission early on and we’re thrilled to continue to support them in delivering the cannabis retail experience of the future.” The $23 million of financing closed on this round brings the company’s total funding to $27 million. This marks the first cannabis tech investment from round leaders Evolv Ventures and e.ventures and is indicative of the increased appetite to bet big on a maturing market segment with an industry leader like Flowhub. With this injection of capital, the company will continue to invest in product innovation, hire top technical talent and expand its partner ecosystem with future technology integrations and collaborations through an open API approach. To learn more or request a demo, visit www.flowhub.com. Additional Resources Watch the Green Dragon video testimonial Read the platform press release Request a demo About FlowhubFlowhub is the leading cannabis retail software company that helps modern dispensaries thrive by delivering compliance, point of sale, inventory tracking, and business intelligence data from a single, highly customizable platform. With first-to-market mobile check in and inventory management applications, Flowhub processes over one billion dollars in cannabis sales annually and empowers more than 700 cannabis retailers and their partners to grow revenue, simplify compliance, speed checkouts and manage inventory for improved consumer experiences.   Flowhub is a privately held company headquartered in Denver. Investors include Poseidon, Evolv Ventures, e.ventures, Green Lion Partners, Phyto Partners, Altitude and Arcadian. For more information visit flowhub.com. SOURCE Flowhub https://flowhub.com
Flowhub ,现代药房的领先大麻零售管理平台,今天宣布已经筹集到超过2300万美元的第一轮融资,由 e 。风险投资公司 Evolv Ventures ——由卡夫亨氏( Kraft Heinz )支持的风险投资基金——和波塞冬( Poseidon )——由投资者9Yards Capital 、前 NBA 总裁大卫?作为大麻科技行业最大的系列 A 轮之一,这笔投资将使该公司成为解决当今复杂大麻零售挑战的 SaaS 解决方案的首选。 随着合法大麻市场预计到2025年将达到660亿美元,美国各地的药房正在扩张,以满足日益增长的对药用和成人使用大麻的需求。为了维持成功的、合法的和合规的运营,这些公司需要像 Flowhub 这样的战略合作伙伴,帮助它们继续扩大运营规模,以满足消费者需求以及不断变化的国家法规。 Flowhub 创始人兼首席执行官凯尔•谢尔曼( Kyle Sherman )表示:“我们现在正在经历的是大麻禁令的终结,而 Flowhub 正处在这场运动的前线。”“利用 Flowhub 零售平台完成的所有法律交易都是积极的一步,我们致力于帮助客户建立繁荣的大麻业务。通过这项投资,我们将继续实现大麻供应链、零售和报告流程的自动化,并向市场提供技术解决方案,这些解决方案不仅将影响大麻零售业务,而且还将推动大麻合法化和去污名化的未来。” 在过去的一年里, Flowhub 经历了巨大的增长,收入增长了200%,在11个市场的客户基础增加了一倍,其中包括家庭品牌,如 Cookies , Greenpep 博士, Green Dragon , Nectar 和 Starbucks 。该公司还在其高管团队中增加了战略角色,包括 SaaS 企业技术负责人 Dave Smith 担任 CRO ,她在市场营销、产品管理和财务等关键战略业务岗位上的女性领导地位在2019年已经增加了50%。Flowhub 最近还宣布在丹佛市中心联合车站附近的前 Slack 总部和三个卫星办公室新建总部,以支持持续的扩张努力。 “我们很高兴在公司整体增长之旅如此关键的时刻加入 Flowhub 。”风险投资。“随着美国各地对合法大麻产品的需求上升, Flowhub 专注于利用技术推动大麻行业的未来,并构建了一个云平台,提供一套应用程序,使药房能够在这个高度监管的行业中提供卓越且量身定制的消费者零售体验。我们支持他们的使命,并期待他们继续取得成功。” 在此宣布之后,该公司推出了对 Flowhub 平台的显著增强,使客户更容易运行和发展他们的药房。这些平台增强功能包括 Stash 应用程序、行业首个最大限度提高效率和准确性的移动库存管理解决方案、用于增强内部销售点功能、与 iPad /平板兼容的收银机应用程序、专门的引擎管理所有商店的折扣和订单与集成合作伙伴 Dutchie 为精简的店内提货过程。Flowhub 还增加了与 LeafBuyer 和 Leafly 的新技术集成,作为其致力于创建强大的合作伙伴生态系统的一部分,使客户能够构建自己的自定义大麻工具栈。 波塞冬(Poseidon)董事总经理埃米莉•帕克斯亚( Emily Paxhia )表示:“坎纳比斯不是一个你刚刚涉足的行业。”“在合规和监管方面,这是一个独特的行业, Flowhub 是领先的大麻科技公司之一,采取了细致和战略的方法。我们很早就看到了 Flowhub 的技术和使命的潜力,我们很高兴继续支持他们提供未来的大麻零售体验。” 本轮融资完成的2300万美元融资使该公司的融资总额达到2700万美元。这是第一次大麻技术投资从圆形领导人 Evolv Ventures 和 e 。风险投资,并表明投资者越来越愿意与 Flowhub 等行业领袖在成熟的细分市场上押注。借助本次注入资金,公司将通过开放原料药(API)方式,继续进行产品创新投入,聘请顶尖技术人才,以未来的技术整合与合作拓展合作伙伴生态系统。 要了解更多信息或请求演示,请访问 www.flowshub.com 。 额外资源 观看绿色龙的录像见证 阅读平台新闻稿 请求演示 FlowhubFlowhub 是领先的大麻零售软件公司,通过提供法规遵从性、销售点、库存跟踪和来自一个高度可定制平台的商业智能数据,帮助现代药房蓬勃发展。Flowhub 利用首次上市的移动登记和库存管理应用程序,每年处理超过10亿美元的大麻销售,并授权700多家大麻零售商及其合作伙伴增加收入、简化合规、加快结账和管理库存,以改善消费者体验。 Flowhub 是一家总部位于丹佛的私人控股公司。投资者包括波塞冬(Poseidon)、 Evolv Ventures 、 e 。风险投资,绿狮合作伙伴, Phyto 合作伙伴,海拔和阿卡迪亚。如需更多信息,请访问飞行中心。com 。 SOURCE 流动枢纽 https://flowhub 。com