Flowhub announces $23M in Series A funding to deliver SaaS solutions for retail cannabis industry
This investment is set to position the company as a SaaS solution for the retail cannabis industry.
Flowhub, Denver, Colo., raised a $23 million Series A financing round led by e.ventures, San Francisco; Evolv Ventures, Kraft Heinz’ Chicago-based venture fund; and Poseidon Asset Management, LLC, San Francisco, with contributions from 9Yards Capital, San Francisco; former NBA commissioner David Stern and Iqram Magdon-Ismail, co-founder and former CEO of Venmo, New York, among others. This investment is set to position the company as a SaaS solution for the retail cannabis industry.
"What we are experiencing right now is an end to cannabis prohibition, and Flowhub is on the front lines of this movement," says 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."