🎙️ Podcast: Flowhub, CEO, Kyle Sherman

Flowhub has raised ~$50M in funding. The most recent round ($19M) includes Jay-Z (personally), which should help the company with its digital payments push.

🏔️ I’ll be in Denver, CO next week (Monday, November 29th — Thursday, December 2nd), let me know if you’re around and would like to connect. 🦃 Have a great Thanksgiving!


🔊 Listen Here


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


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