🎙️ 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!
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.
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
$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
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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