Company:Flowhub

From HandWiki
Flowhub
TypePrivate
IndustrySoftware, Cannabis industry
Founded2015; 11 years ago (2015)
FounderKyle Sherman
Headquarters
Denver, Colorado
,
United States
Area served
United States
ServicesRetail management software
Websitewww.flowhub.com

Flowhub is an American technology company that provides retail management and point-of-sale (POS) software for state-licensed cannabis dispensaries[1]. Founded in 2015 in Denver, Colorado, its platform helps retailers manage sales, inventory, and compliance with state regulations.[2][3]

History

Flowhub was founded in 2015 by CEO Kyle Sherman. The company was established in response to the regulatory and operational complexity facing cannabis retailers following state-level legalization.[4][5][6]

In 2018, Flowhub partnered with HP Inc. to develop and distribute a point-of-sale hardware system designed specifically for cannabis retail environments.[7][8][9]

In 2022, the company launched Maui, a next-generation version of its retail management platform.[10]

In 2024, Flowhub produced the docuseries The Great American Dispensary Tour in collaboration with Ricki Lake and Jason Kennedy, hosted by founder and CEO Kyle Sherman.[11]

Operations

Flowhub operates a software-as-a-service (SaaS) platform that integrates point-of-sale functionality, inventory management, and regulatory reporting into a single system. The platform automates required reporting to state cannabis tracking systems.[12]

The company also offers proprietary mobile applications including Greet for customer check-in and Stash for inventory management as well as the Nug scanner hardware.[13][14] It operates on a subscription-based pricing model and serves more than 1,000 dispensaries across multiple U.S. states.[12] It has been listed in state regulatory documentation as a required or approved compliance system for licensed cannabis operators.[15]

Funding and Investors

Flowhub is a venture-backed company. In 2019, it raised $23 million in a Series A funding round led by Evolv Ventures, the venture fund backed by Kraft Heinz.[12]

In October 2021, the company raised an additional $19 million in a strategic funding round led by Headline, with participation from Poseidon Asset Management and musician and entrepreneur Jay-Z (Shawn Carter).[16][17] Reports at the time placed the company’s valuation at over $200 million.[18][19]

As of 2022, Flowhub has raised more than $50 million in total funding. Additional investors have included cannabis-focused investment firms such as Green Lion Partners and Phyto Partners as well as non-cannabis investors like PayPal and the founders of Venmo.[20]

Flowhub is a founding board member of the U.S. Cannabis Roundtable, a federal lobbying group. The company has also engaged in advocacy to address banking access for the cannabis industry.[21]

See also

References

  1. ↑ "About That Joint: Marijuana Start-Ups Pass". The New York Times. 2018-01-24. https://www.nytimes.com/2018/01/24/technology/marijuana-start-ups-go-beyond-the-simple-joint.html. 
  2. ↑ "Flowhub LLC - Company Profile and News" (in en). https://www.bloomberg.com/profile/company/1500823D:US. 
  3. ↑ Lee, Jeremy Berke, Yeji Jesse. "CULTIVATED: Why investors love Flowhub, cannabis industry layoffs, and more" (in en-US). https://www.businessinsider.com/cultivated-cannabis-newsletter-week-february-14-2020-2. 
  4. ↑ "Marijuana May Be Legal, but Good Luck Filing the Paperwork". The New York Times. 2016-02-21. https://www.nytimes.com/2016/02/21/business/yourtaxes/marijuana-may-be-legal-but-good-luck-filing-the-paperwork.html. 
  5. ↑ Shapiro, Katie (2019-08-01). "High Country: How Denver’s hottest startup is streamlining sales and service for dispensaries" (in en-US). https://www.aspentimes.com/news/marijuana/high-country-how-denvers-flowhub-is-streamlining-sales-and-service-for-dispensaries/. 
  6. ↑ "Take a weed break at work. It’s allowed!". WGN-TV. 2016-01-18. https://wgntv.com/news/take-a-weed-break-at-work-its-allowed/amp/. "Profiles Flowhub's weed-friendly workplace policy shortly after its 2015 founding, quoting co-founder Kyle Sherman." 
  7. ↑ "HP is jumping into the legal marijuana industry with a technology that could change the way people buy weed — and it's a first for Silicon Valley". Business Insider. 2018-04-15. https://www.businessinsider.com/hewlett-packard-retail-solution-for-marijuana-dispensaries-2018-3. 
  8. ↑ Petrecca, Laura (2018-04-13). "HP is jumping into the pot business". The Washington Post. https://www.washingtonpost.com/news/on-small-business/wp/2018/04/13/hp-is-jumping-into-the-pot-business/. 
  9. ↑ "HP Hashes Out New Strategy to Target Booming Pot Business". https://www.bloomberg.com/news/articles/2018-04-11/hp-hashes-out-new-strategy-to-target-booming-pot-business?embedded-checkout=true. 
  10. ↑ Loizos, Connie (2022-09-20). "Flowhub launches Maui, the next generation of its cannabis POS platform". TechCrunch. https://techcrunch.com/2022/09/20/flowhub-launches-maui-the-next-generation-of-its-cannabis-pos-platform/. 
  11. ↑ "A New Travel Show Is Exploring Cannabis Culture on ‘The Great American Dispensary Tour’" (in en-US). https://matadornetwork.com/read/great-american-dispensary-tour/. 
  12. ↑ 12.0 12.1 12.2 "The buzziest startup in cannabis doesn't even sell marijuana. Meet Flowhub, the cannabis-tech platform that's already signed on more than 900 dispensaries.". Business Insider. 2020-02-11. https://www.businessinsider.com/flowhub-a-tech-startup-is-the-hottest-cannabis-startup-2020-2. 
  13. ↑ Staff, MG (2017-10-10). "Flowhub's Stash App provides dispensaries with a portable inventory manager". MG Magazine. https://mgmagazine.com/business/retail-merchandise/flowhubs-stash-app-provides-dispensaries-with-a-portable-inventory-manager/. 
  14. ↑ "Flowhub in the PCMag Startup Spotlight" (in en). 2016-03-29. https://www.pcmag.com/news/flowhub-in-the-pcmag-startup-spotlight. 
  15. ↑ Massachusetts Cannabis Control Commission (2021-08-04). "Administrative Review Application - Nova Farms, LLC". p. 4. https://masscannabiscontrol.com/wp-content/uploads/2021/08/MR281379_Nova-Farms-LLC.pdf. "Dispensary Agents will be trained on the use of Flowhub a system that interfaces with metrc and keeps track of inventory and sales." 
  16. ↑ Staff, XXL (2021-10-13). "Jay-Z Invests $19 Million in Marijuana Software Company". XXL Mag. https://www.xxlmag.com/jay-z-19-million-dollar-investment-marijuana-software-company/. 
  17. ↑ Yakowicz, Will. "Jay-Z Invests In Cannabis Payment Company Flowhub" (in en). Forbes. https://www.forbes.com/sites/willyakowicz/2021/10/12/jay-z-invests-in-cannabis-payment-company-flowhub/. 
  18. ↑ Schaneman, Bart (2022-09-13). "Marijuana tech platform Flowhub cuts dozen employees amid market downturn". MJBizDaily. https://mjbizdaily.com/news/marijuana-tech-platform-flowhub-cuts-dozen-employees-amid-market-downturn/338545/. 
  19. ↑ "Exhibit 10.1: SAFE (Simple Agreement for Future Equity)". https://www.sec.gov/Archives/edgar/data/1477009/000139843218000125/exh10_01.htm. "This SAFE agreement details a $250,000 investment by General Cannabis Corp in Flowhub Holdings, LLC on or about November 5, 2018, with a valuation cap of $35,000,000." 
  20. ↑ "Flowhub Entrepreneur Company Profile". https://www.entrepreneur.com/company/flowhub. 
  21. ↑ Casacchia, Chris (2025-02-18). "Despite unlikely allies, cannabis industry struggling with debanking" (in en-US). https://mjbizdaily.com/news/cannabis-industry-still-struggling-with-debanking-despite-unlikely-allies/401439/. 

Template:Cannabis in the United States



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