Flowhub, a Denver, CO-based cannabis retail management platform for dispensaries, raised $23m in Series A funding.
The round was led by e.ventures, Poseidon and Evolv Ventures, and Poseidon, with contributions from 9Yards Capital, former NBA commissioner David Stern and Iqram Magdon-Ismail, the co-founder and former CEO of Venmo, among others.
The company intends to use the funds to 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.
Led by Kyle Sherman, founder and CEO, and Dave Smith, CRO, Flowhub enables dispensaires to manage complex compliance mandates, supply chain data, sales transactions and reporting by delivering point of sale, inventory tracking, compliance and business intelligence data from a single, customizable platform.
The platform features:
– the Stash app, a mobile inventory management solution,
– the Cashier app for enhanced front-of-house point-of-sale capabilities with iPad/tablet compatibility, and
– the Specials engine for managing discounts across all stores and Order Ahead with integration partner Dutchie for a streamlined in-store pick up process.
The company has a customer base across 11 markets, which includes household brands like Cookies, Dr. Greenthumb’s, Green Dragon, Nectar and Starbuds.