Market Overview

Flowhub Raises $23M In Series A Funding; CEO Says Company 'On The Front Lines' Of Legalization

Share:
Flowhub Raises $23M In Series A Funding; CEO Says Company 'On The Front Lines' Of Legalization

Flowhub, a cannabis retail management platform for up-to-date dispensaries, said Tuesday it has raised an oversubscribed $23-million Series A financing round led by e.ventures; Evolv Ventures, the venture fund supported by Kraft Heinz; and Poseidon.

Other contributors included 9Yards Capital; Iqram Magdon-Ismail, the co-founder and former CEO of Venmo; and David Stern, the former NBA commissioner.

It's one of the largest Series A funding rounds to date in the cannabis tech sector and could make FlowHub the SaaS solution of choice for complex cannabis retail challenges, the company said. 

Flowhub has now raised $27 million. 

Click here for more information about the upcoming Benzinga Cannabis Capital Conference Oct. 22-23 in Chicago.

"What we are experiencing right now is an end to cannabis prohibition, and Flowhub is on the front lines of this movement," Kyle Sherman, the company's founder and CEO, said in a statement.

"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 announced improvements on its platform that will allow its customers to more easily manage and develop their dispensaries.

Among the new enhancements are the Stash app, the Cashier app, a Specials engine, and an order ahead feature with integration partner Dutchie, according to Flowhub. 

Don’t miss out on the top cannabis stories of the day. Click here to sign up for our daily insider newsletter.

Posted-In: e.ventures Evolv Ventures Flowhub PoseidonCannabis News Financing Markets Best of Benzinga

 

Related Articles

View Comments and Join the Discussion!

Cannabis Movers

Sign up for our secret cannabis newsletter!
Never miss out on the breaking news in the Cannabis Industry!

Here's How Much The General Motors-UAW Strike Has Cost Automaker, Workers

Nio Shares Trade Higher On Report of Chinese Factory Deal Talks