GrowFlow is a Los Angeles-based SaaS company that provides software to the cannabis and hemp industries. The company specializes in compliance, inventory management, point of sale, analytics and sales software.
On May 12, the company announced that it raised $8.4 million in growth financing. The funding will be used to accelerate product development, and boost sales and marketing efforts.
The company is also working to support cannabis and hemp businesses as they adapt to the new reality COVID-19 has forced upon them. Many companies are operating with a reduced staff focused on fulfilling demand.
GrowFlow has rolled out new features to help customer-facing companies roll out pre-orders and curbside pickup capabilities. It has nearly 1,000 clients throughout seven states within the cannabis industry.
This additional financing brings the company's total funding to $10 million to date.