DENVER — Simplifya, the developer of cannabis industry compliance software, announced Thursday it has closed a $3 million Series B round of funding. It was led by a $1 million investment from Merida Capital Partners, a private equity fund that targets fundamental growth drivers underpinning the rapid development of the cannabis industry, according to a press release.
"The cannabis industry is expanding rapidly, and so is the breadth and depth of the regulations that these businesses must navigate in order to remain compliant with state and local laws," said Simplifya CEO and co-founder Marion Mariathasan. "This funding round will allow Simplifya to continue to grow, as well.
"We are in the process of expanding our geographic reach and developing tools and services to help companies of all types and sizes thrive in these new markets," Mariathasan said.
Simplifya’s compliance tool distills complex state and local regulations into a simple series of yes-or-no questions to generate management and audit reports, identify areas of noncompliance, and hold employees accountable for remediation. It is being utilized by a wide variety of cannabis companies across Colorado, and Simplifya is in the process of expanding its services to businesses in California.
