Leafbuyer Technologies Inc. (LBUY)

[Deetew]

"Cannabis retail management software vendor Flowhub successfully raised $23 million in the Series A funding round. Flowhub is a retail management platform for marijuana dispensaries.

The Series A funding round was led by e.ventures, Evolve Ventures, who is supported by Kraft Heinz, and Poseidon. Other notable investors in the company include 9Yards Capital, former NBA commissioner David Stern, and co-founder and former chief executive officer of Venmo Iqram Magdon-Ismail.

In a press release by Flowhub, founder and chief executive officer Kyle Sherman said “what we are experiencing right now is an end to cannabis prohibition and Flowhub is one of the front lines of this movement. 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.”

Flowhub’s Innovative Products
The company’s wide range of offerings currently includes online-ordering features, in-store purchases, integrated features in partnership with LeafBuyer and Leafly, and an updated software which highlights its mobile inventory system. The Cashier App has also been enhanced to work with other devices such as an iPad and other similar tablets and gadgets.

Dispensaries will also reportedly gain access to easier and more hassle-free customer identification methods by using handheld devices programmed with Flowhub software.

Its integration with LeafBuyer, Leafly, as well as Dutchie, “allows cannabis businesses to stay on top of crushing compliance mandates and to create the ideal cannabis tool stack that best serves their business needs.”

In an exclusive interview with Crunchbase News, Sherman revealed that their location in Denver, Colorado is key for achieving success in the field, saying “Colorado is ground zero for regulated cannabis – both medically and legally.” Sherman states that innovations from Colorado help pave way for legalizations within other states to push through.

In total, the amount raised by the company comes to $27 million. Based on its press release, the company intends to use its funding towards product innovation, adding more members to their team, and expanding its network of clients."

https://plantsbeforepills.com/flowhub-raises-23-million-in-series-a-funding/