Fyllo, a digital marketing company focused on the cannabis industry, has acquired CannaRegs, a website that offers subscription access to state and local cannabis regulations. Fyllo's founder and CEO, Chad Bronstein (pictured above), said his company paid $ 10 million in cash and shares.
Bronstein was previously Chief Revenue Officer at Amobee, a digital marketing company. "Especially since regulations and compliance represent a" unique technical challenge "for advertising cannabis products.
Ultimately, his goal is for Fyllo to offer" compliance as a service ", with artificial intelligence helping brands and publishers to ensure your cannabis advertising is following local laws while Bronstein said Fyllo will continue to support and work to further automate the platform to more than 1
CannaRegs founder and CEO Amanda Ostrowitz becomes Fyllos Chief Strategy Officer. CannaRegs’s 30 employees continue to work in their Denver office, bringing Fyllo to a total of around 70 employees.
"In a short period of time, Fyllo has become an indispensable platform for publishers and cannabis companies to create creative campaigns on safe and k to create an informal way, "said Ostrowitz in a statement. “Working with Fyllo gives us the opportunity to build a truly remarkable brand that can disrupt the entire industry. We look forward to providing existing customers with the same data quality and integrating this data into Fyllo's platform to provide a one-stop shop for cannabis brands looking to grow their business from a single source. “
Chicago-based company Fyllo raised $ 18 million last year.