On April 12, 2017, Flowhub, a seed-to-sale cannabis compliance platform, announced that it had closed an oversubscribed Series A offering of $3.25 million, with Green Lion Partners and Phyto Partners leading this round of financing.
“We are thankful for the strong support we’ve received from some of the leading institutional investors in the cannabis space, giving us the resources we need to take Flowhub to the next level,” said Kyle Sherman, founder and CEO of Flowhub. “We are confident that within the next few months, a significant percentage of all transactions occurring in the regulated cannabis industry will be facilitated by the Flowhub platform.”
“We believe the Flowhub team will dominate the technology backbone of the cannabis industry and are proud to have Flowhub in our portfolio allowing our investors the opportunity to invest in this emerging industry,” said Larry Schnurmacher, managing partner at Phyto Partners, whose portfolio companies include New Frontier, Baker and Tradiv, among others.
According to Michael Bologna, CEO of Green Lion Partners, “We have no shortage of deal flow in the cannabis sector. We’ve looked at hundreds of investment opportunities in the space and have strong relationships with industry leaders in retail and cultivation. It’s clear Flowhub has a unique vision for the future of technology solutions in the industry and we couldn’t be happier to be a part of this mission.”
Flowhub is no stranger to an abundance of investor interest as the company’s seed round in 2015 was also oversubscribed.