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
