Often the best entrepreneurial ideas come from realizing a glaring flaw in the way things are done. Such was the case for Kyle Sherman, who was a supply chain manager for a cannabis grower in Colorado using BioTrackTHC software to help the company stay compliant. He saw tremendous inefficiency, as he was required to write 24-character ID codes by hand. “I personally used BioTrack for almost six months, and it was not a usable piece of software. It’s why we started the company,” said Sherman.
Sherman launched Flowhub with co-founder and CFO Chase Wiseman in 2014 with a goal of offering a state-of-the-art cannabis inventory management system to make compliance painless for growers and dispensary owners. The offering goes beyond compliance, as it offers both growers and retailers a unified platform that includes features like a loyalty program and business intelligence reporting. The company, which counts popular chain Native Roots as a customer, has raised $2.2mm, including a $175K investment from MassRoots (OTC: MSRT).
Sherman has a harsh view of his competition:
Our competitors’ software has been retrofit for the cannabis industry instead of made for it. BioTrack software is using very old technology from the 90s. MJ Freeway is a web-based app we’ve heard is built on blogging platform Drupal. Imagine using WordPress or Drupal to manage your enterprise cannabis facility.
Read Marvin’s “Flowhub in the PCMag Start-Up Spotlight”: http://uk.pcmag.com/feature/76372/flowhub-in-the-pcmag-start-up-spotlight