In #finance, #cannabis #tech company #Fyllo closes on a 30 #million #dollar #capital #raise. The oversubscribed Series B #financing round, led by Sol Global and JW #Asset Management, saw 60 percent of funds come from outside of the #marijuana sector, from participants such as K2, Entourage Effect Capital, and Arcadian Capital Management. Chicago-based Fyllo, which specializes in #digital marketing and compliance #software, has raised nearly 60 million dollars since its founding in 2019, and plans to eventually expand to other highly-regulated industries. They intend to use the most recent funding to double their engineering staff, scale operations and #sales, and accelerate the delivery of compliance automation solutions to publishers, advertisers and operators. They will also use the capital to integrate point-of-sale, #retail marketing, and customer loyalty tools from January acquisition DataOwl into their platform. The DataOwl purchase builds upon Fyllo’s goal of increasing their service offerings, following their 10 million dollar #acquisition of marijuana compliance tech provider CannaRegs in #January of 2020. Fyllo currently works with more than 320 cannabis retailers, including major multistate operators like Grassroots and Columbia Care, across 25 states.
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