Fyllo raises $30 million to expand digital marketing and compliance solutions beyond cannabis industry
Some 60% of the funds raised in the Series B came from outside of the cannabis sector, validating the Israeli company's potential to scale beyond the endemic market
Meir Orbach | 20:45 06.04.2021
Fyllo, which develops digital marketing and compliance solutions technology for highly regulated industries, including cannabis, has raised a $30 million Series B co-led by JW Asset Management and Sol Global. Additionally, Peter S Kraus, chairman and CEO of Aperture Investors, and former Alliance Bernstein CEO joins the company's Board of Directors. Fyllo has raised nearly $60 million since it was launched in 2019 to solve the most pressing marketing and compliance challenges facing the cannabis sector and other highly regulated industries. Fyllo's Compliance Cloud suite of SaaS software is used by multi-state operators that include Columbia Care and Grassroots Cannabis. Fyllo has rapidly expanded its suite of services via acquisitions such as CannaRegs in 2020, which provides a regulatory compliance tool, and DataOwl earlier this year, which provides retail marketing, loyalty, and point-of-sale solutions.