Fyllo acquired DataOwl, a company providing marketing and loyalty tools for cannabis retailers.
Fyllo said he already works with 320 cannabis retailers in 25 states (plus Puerto Rico and Jamaica). According to Conrad Lisco, Chief Marketing Officer, this acquisition enables the company to offer the industry’s “first end-to-end marketing solution”, combining consumer data, digital advertising, regulatory compliance (thanks to Fyllo’s acquisition of CannaRegs last year) and, through DataOwl, CRM and loyalty linked to a company’s point of sale system.
As an example, Founder and CEO Chad Bronstein (formerly chief revenue officer of digital marketing firm Amobee) said retailers will be able to use the Fyllo platform to send promotional texts to repeat customers while ensuring that that these campaigns are fully integrated. compliance with national and local regulations. He added that eventually the platform could be used beyond cannabis, in other regulated industries.
“Beauty, gambling, etc. – the same things have to happen in all regulated industries, they would all benefit from automation of loyalty and compliance, ”said Bronstein.
In addition, he argued that mainstream brands are increasingly interested in the use of data on cannabis and CBD consumers, as confirmed by a Forrester study commissioned by Fyllo.
Lisco said the acquisition comes at a critical time for the cannabis industry, with dispensaries categorized as core businesses in many states, as well as the continuing momentum behind the legalization of marijuana.
“In 2020, cannabis has come of age,” he says. “We would say it has gone from illegal to essential in 10 months … 2021 is really a question of rampant surveillance [marijuana] brands are trying to grow so they can take advantage of explosive growth. They have always been excluded from the kinds of integrated marketing capabilities that others are not endemic [mainstream] trademarks are used when they are placed on the market. “
Bronstein said Fyllo aims to bring these capabilities to marijuana brands, first by integrating its compliance capabilities into the DataOwl product. The company also aims to create a national cannabis loyalty platform, making it easy for a one-state marijuana retailer to expand their marketing capabilities to other states in a compliant manner.
Financial terms of the acquisition were not disclosed. DataOwl co-founders Dan Hirsch and Vartan Arabyan join Fyllo, along with the rest of their team, bringing the company’s total workforce to 110.
“By integrating with Fyllo, DataOwl’s solutions will reach the widest possible audience through the industry’s most innovative marketing platform,” Hirsch said in a statement.