Flowhub announced a $19 Million Series B (what I’m categorizing it as) round last month led by Headline (Series A Lead), with participation from Poseidon, Massive and Jay-Z. I caught up with CEO, Kyle Sherman, to revisit the early days, funding, and the company’s growth plans, among other things.

Notes:

Seed (May 2015 through April 2017) — multiple rounds to raise ~$8M from Arcadian, Altitude Investment Management, Phyto Partners, Poseidon
$23M Series A (June 2019) — Headline, Poseidon, Evolv Ventures
Wanted to broaden the reach as they had raised from ~80% of the Cannabis VC funds at that time
Spoke to over 300 firms and individuals; came close with a fund but one of the LPs wouldn’t approve the deal given the vice clause
Met his Series A investor, Jett Fein (Headline), at the Fortune Brainstorm Conference
$19M Series B (October 2021) — Headline, Poseidon, Massive VC, Jay-Z
Introduced to Jay-Z through one of their Angel investors
The Company’s newest investor did sell his company, TIDAL, to Square back in March 2021—so I’m going to assume Jay-Z will have some helpful insights on digital payments
Remote Work — heavily researched the 1918 pandemic virus, became a fully remote company back in May
US Cannabis Council — one of the founding members of the Cannabis Trade Federation which became the US Cannabis Council. Kyle has been active in pushing to build an equitable, diverse, and fair industry
Associate Producer on Weed the People
Fox Business News Interview

Flowhub CEO, Kyle Sherman

Highly ObjectiveBy Dai TruongNov 24, 2021