Simplifya, a regulatory and operational compliance software platform serving the cannabis industry, today announced a new searchable database of cannabis regulations across the U.S., known as RegFinder. The company has also expanded license tracking capabilities within its Simplifya Verified platform, adding coverage of 25,000 active hemp licenses.
The launch of the new services comes alongside an infusion of expansion capital of $500,000 from existing shareholders.
According to the company, RegFinder is the most comprehensive regulatory database for the cannabis industry. Getting a complete picture of a given state's cannabis regulations can be difficult, as many states' cannabis regulations are found across multiple sources due to different departments having their own rules.
In addition, the regulations are not always available in an easily searchable format. RegFinder makes it easy for operators, lawyers and others who reference regulations to access differing cannabis regulations for each state in a single, searchable database. Users can also compare regulations from state-to-state, which is especially useful for multi-state operators or those looking to enter a new state.
"The cannabis industry is rife with issues when it comes to finding information scattered across different state agencies, all of whom utilize different processes," said Marion Mariathasan, founder and CEO of Simplifya. "This is true of both regulations and licenses. When states don’t record their regulations in a searchable format, locating a specific line within pages upon pages can be unnecessarily difficult."
The company also announced improvements to Simplifya Verified, a service that streamlines the process of locating cannabis and hemp licenses, and organizes the disparate information into a single app with unlimited search flexibility.
The database is updated daily, saving time when compared to the standard process of combing through state agency websites, many of which can be difficult to navigate and display information in different formats from state to state.
Altogether, Simplifya Verified tracks more than 90,000 licenses nationwide, and monitors licensing rounds and reviews data from more than 100 state agencies. The license tracker can also be used for monthly monitoring that analyzes a list of businesses and returns a report with current license status; alternatively, Simplifya can integrate an API into a user’s system to create an automated process.
"Tracking licenses can have idiosyncrasies that make the process twice as confusing and time-consuming," Mariathasan adds. "An agency might decide to show where the owner lives as opposed to where the business resides. For example, a business located in Colorado might show up in the Texas registry simply because the license owner lives there. The expanded Simplifya Verified and our new product RegFinder are our solutions to save the cannabis industry from wasting this time unnecessarily.”