Cannabis Compliance Software Company Fyllo Raises $40 Million - Read of Green
Connect with us

News

Cannabis Compliance Software Company Fyllo Raises $40 Million

Published

on

Source: Marijuana Moment

Fyllo Raises $40 M Series C to Scale SaaS Platform

Eminence Capital Leads Round to Support Fyllo’s Talent Acquisition and Strategic Acquisition Efforts

CHICAGO, Nov. 8, 2021 /PRNewswire/ — As the need for compliant marketing and data solutions continues to grow Fyllo, the leader in compliance-first SaaS solutions for highly regulated industries, has closed a $40M Series C round led by Eminence Capital. New venture firms that participated in the round include Longview Capital Advisors and ArrowMark Partners.

Fyllo is leading the development of much needed compliance, data and marketing solutions to enable companies in highly regulated sectors like cannabis to scale effectively. Today, companies across the cannabis supply chain rely on Fyllo’s compliance-first solutions to navigate the industry’s ever-changing regulatory environment. For both cannabis and mainstream brands, Fyllo’s Data Marketplace provides unparalleled access to cannabis and CBD audiences, a lucrative and rapidly growing consumer segment.

In 2021 demand for our products skyrocketed. We couldn’t be happier to work with Eminence Capital, a trailblazing firm known for investing in innovative, high-growth industries.

Chad Bronstein, CEO and founder of Fyllo

The funds will be used to continue to invest in hiring top talent and for accretive acquisitions to enhance the company’s technology stack following the February 2021 purchase of retail and marketing platform DataOwl. Since the beginning of the year, Fyllo’s business has grown over 100%, and its team has grown by nearly 275%, with the addition of executives from Twitter, Salesforce and major cannabis brands.

Fyllo is our first private investment in the cannabis space, but what we really see in the company is a unique solution for customer acquisition, data and compliance that can be applied to operators in any industry that has to navigate stringent regulations. Chad and his team have built something that rivals the largest players in the world to solve some of the biggest challenges that face highly regulated industries, starting with cannabis.

Ricky Sandler, Chief Executive Officer, Eminence Capital

Additional participants in the round include JW Asset Management, K2 Asset Management, Ambria Capital, SOL Global Investments, Arcadian Capital Management, Phyto Partners, and Salveo Capital. Concurrent with this raise, Kristopher Koka, Portfolio Manager, Eminence Capital will be joining the Company’s Board of Directors.

About Fyllo

The Fyllo Compliance Cloud is a suite of software and services that enable organizations to navigate today’s ever-changing regulatory landscape, streamline compliance, and scale with speed. Mainstream brands also use the Fyllo Data Marketplace to target previously inaccessible cannabis and CBD consumers.

Original press release


Advertisement

Trending

DON’T MISS OUT!
Subscribe To Newsletter
Be the first to get latest updates and exclusive content straight to your email inbox.
Stay Updated
Give it a try, you can unsubscribe anytime.
close-link