Flowhub, a cannabis software technology platform, said it closed a $19 million strategic raise to help the Denver company expand into emerging markets and grow a social equity program.
The funding round was led by venture firms Headline, based in Silicon Valley, and San Francisco-headquartered Poseidon Asset Management as well as a personal investment from rapper and entertainment mogul Shawn “Jay-Z” Carter.
The $19 million increases Flowhub’s total capital raised to $50 million, according to a news release.
Business leaders need reliable industry data and in-depth analysis to make smart investments and informed decisions in these uncertain economic times.
Get your 2023 MJBiz Factbook now!
Featured Inside:
- 200+ pages and 50 charts with key data points
- State-by-state guide to regulations, taxes & opportunities
- Segmented research reports for the marijuana + hemp industries
- Accurate financial forecasts + investment trends
Stay ahead of the curve and avoid costly missteps in the rapidly evolving cannabis industry.
Under the company’s new program, social equity business owners will receive Flowhub’s point-of-sale software for $4.20 for up to three years as well as additional products and services.
In 2019, Flowhub raised $23 million in a Series A funding backed by numerous investors, including existing stakeholders Phyto Partners, based in Boca Raton, Florida, and Poseidon.
