Simplifya, a startup that makes regulatory compliance software for the growing cannabis industry, announced it secured $3 million in Series C funding.
Merida Capital Partners, a private equity firm which has experience in providing funds for the cannabis industry, led the funding round for Simplifya.
“Across the U.S. and around the world, cannabis prohibition laws are crumbling and giving way to tightly regulated systems of cultivation, product manufacturing, and sales,” said Simplifya CEO Marion Mariathasan, in a statement. “Regulatory compliance is critical to the success of every business that enters these new markets. It can be difficult in such a nascent industry, where rules are quickly evolving and the whole system is constantly under the microscope. Simplifya makes it as simple as possible for cannabis companies to maintain compliance, so they can focus more attention on growing their businesses and gaining their footing in this new industry.”
As the cannabis industry has grown and more states have begun doing away with prohibition laws, Simplifya has seen the need for its services expand. It’s web based compliance tool started operations in Colorado in late 2016, and now has expanded to California, Maryland, Massachusetts, Michigan, Nevada, Oregon and Ohio.