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.
Grow better: MJBizDaily Greenhouse Components Buyers Guide
Maximize your output and quality with the right equipment. Curated by the editors of MJBizDaily, our new, free Greenhouse Components Buyers Guide helps you choose wisely and covers irrigation, automation and ROI.
- Cannabis greenhouse buyers checklist
Keep track of everything you need.
- Pros and cons of common benching systems
Help weigh out the best choice for your greenhouse benching system with this overview.
- Cannabis greenhouse Glossary of Terms
What is evaportranspiration? Download the guide to find out and learn more technical jargon unique to greenhouse and the cannabis industry.
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.