Cannabis RegTech Co. Simplifya Touts 100% YoY Growth As More States Legalize & Compliance Becomes Essential

Cannabis-focused regulatory and operational compliance software platform Simplifya revealed Thursday that it saw a 100% growth year-over-year in 2021.

Based in Denver, the company also announced several other key 2021 growth metrics and accomplishments, including marketplace expansions, new product launches and new hires.

2021 Growth Highlights

• 40% year-over-year increase in the number of clients using its Simplifya Self Audit platform.
• Expanded its core suite of services – Simplifya Standard Operating Procedures (SOPs), Simplifya Smart Cabinet, and Simplifya Self Audit – from 19 to 24 states.
• Launched Simplifya Market Guide, a new platform that arms cannabis and cannabis-related businesses with comprehensive, user-friendly state regulatory summaries for all 50 states.
• Several key hires, including appointing Katrina Skinner as its general counsel and chief banking officer – one of the country’s top cannabis banking, financial services and compliance experts.
• Formed several key partnerships with regulatory, tax, legal and D&O insurance topic experts, including Hub International, Burns & Levinson, and CohnReznick.

In addition, Simplifya disclosed plans to expand its core services to an additional six states in 2022.

“As more states legalize and migrate to adult-use; new banks, insurers, law firms, and other ancillary businesses enter the space; businesses expand the number of markets they operate in; additional regulations and guidance are enacted and are updated; and the federal dialogue continues – keeping track of all the stringent compliance requirements has only become more complicated,” Marion Mariathasan, Simplifya CEO and co-founder said. “However, in 2021, we saw an astounding number of cannabis operators and ancillary businesses realize RegTech compliance is no longer just ‘nice to have’ – but a ‘must have’ – leading to our business’ record-breaking growth.”

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