Fyllo, a cannabis marketing and compliance software company, raised another $40 million in capital to fund growth, mergers and acquisitions as well as attract executive talent.
The deal comes only seven months after the Chicago-based company raised $30 million.
Fyllo now has netted nearly $100 million in capital since August 2020.
Eminence Capital led the $40 million round, according to a news release announcing the deal.
Other venture capital firms that participated include Longview Capital Advisors and ArrowMark Partners.
Details of Fyllo’s valuation or investor equity stakes weren’t disclosed.
Fyllo provides compliance, data and marketing solutions to enable cannabis companies to scale effectively.
Are you a social equity cannabis license holder or applicant?
The MJBizCon team is now accepting 2023 Social Equity Scholarship Program applications.
The mission of this program is to provide social equity cannabis license holders or applicants access to the #1 global cannabis industry conference + tradeshow in Las Vegas.
Who can apply?
- Students currently enrolled in a cannabis-related program at an accredited university or college.
- Cannabis executives at licensed social equity cultivation, extraction/processing, retail, manufacturing/brand businesses (or awaiting application approval).
Don’t miss out on this potentially life-changing opportunity.
Apply to attend MJBizCon today – The application period will close on July 24!
The company, which bought retail and marketing platform DataOwl in February, said its business has more than doubled this year.
To support the growth, Fyllo has added executives from Twitter, Salesforce and major cannabis brands, the release noted.