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Chad Bronstein of Fyllo: “You need the proper investors who really believe in your vision to back your growt”

As I have been saying, the most important aspect to have when building really any type of company is a professional and supportive team. Next, you need a clear vision to guide your actions and decisions, and to motivate your staff. Third, you won’t be able to continue building out your company unless you have […]

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As I have been saying, the most important aspect to have when building really any type of company is a professional and supportive team. Next, you need a clear vision to guide your actions and decisions, and to motivate your staff. Third, you won’t be able to continue building out your company unless you have grit. Fourth factor of a successful SaaS is the sales team. You need the right group of salespeople to commercialize your product or service. Lastly, you need the proper investors who really believe in your vision to back your growth.


As part of my series about the “5 Things You Need To Know To Create a Successful App or SaaS”, I had the pleasure of interviewing Chad Bronstein.

Chad is the Founder and CEO of Fyllo, a leading innovator in data, media and compliance solutions for highly regulated industries. Under Chad’s visionary leadership, Fyllo’s customer base has grown to include some of the most iconic brands in cannabis and mainstream verticals.

Throughout his career, Chad’s talents in go-to-market strategy, mergers and acquisitions, sales, and product development has helped him stay one step ahead of the market while creating significant corporate value and profitability.


Thank you so much for joining us! Our readers would love to “get to know you” a bit better. Can you tell us a bit about your ‘backstory’ and how you got started?

I have been an entrepreneur since I was a young kid. When I was eleven years old Beanie Babies were all the rage, and I made a business out of buying and reselling them at five to ten times the original price. About a year and a half ago, I decided that I wanted to change careers and build my own business. I had previously worked as CRO at a technology company for eight years doing revenue operations and was ready for something else. I brought in previous co-workers from different walks of life that could help me build a successful technology company.

What was the “Aha Moment” that led you to think of the idea for your current company? Can you share that story with us?

Amobee and other technology providers began seeing demand from the cannabis space but there weren’t any tech solutions available yet specifically for that industry. I had to make the decision to stay at Amobee or start my own cannabis-focused company in an effort to meet that demand. My wife loves the cannabis market and talks about it constantly, so I asked for her thoughts on my starting something in cannabis and she was all for it! She pushed me to do it and here we are. We’ve raised 26M dollars and it’s become a pretty fast-tracked company in the tech world for data and compliance as well as with mainstream brands that want to target cannabis consumers.

Can you tell us a story about the hard times that you faced when you first started your journey? Did you ever consider giving up? Where did you get the drive to continue even though things were so hard?

There were tons of tough moments, especially since we were jumping into cannabis. It’s difficult to find the right approach to business in this industry with its unknown future, immaturity as a market and constant pivots. There have been trying times but I am surrounded and supported by a really phenomenal team, plus it’s part of my DNA to never give up. Building a strong support system was a core focus when building the company so I knew that in challenging times we would get to the other side in a positive fashion. If you have that team, someone there will have the right skillset to find the solution and lift you out of those situations and you’ll never feel the need to give up.

So, how are things going today? How did your grit and resilience lead to your eventual success?

I have resilience myself but Fyllo is a company, so it’s the grit and resilience of the entire group that makes us successful. Today we are moving really fast despite how young we are, and we are proud of our accomplishments coming into a challenging space as a competitor. We got to where we are today because we are constantly educating ourselves, encouraging a positive culture and keeping a proactive mentality, and we have a loud voice as to how we are building our technology and data. However, it really all comes down to the team. There is a theme here, and it’s all about having a good team.

Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lessons or ‘take aways’ you learned from that?

I was starting a business in a world I barely knew because I was never much of a cannabis enthusiast, so I didn’t understand all the nuances. When I first started I didn’t even know the difference between indica strains and sativa strains, which is practically cannabis basics. I realized I had to fast-track my learning of the industry

What do you think makes your company stand out? Can you share a story?

Fyllo stands out due to our differentiated ability to bring data to a new environment. For example, we can talk about a consumer who may or may not use cannabis products, but we do know she shops at Nordstroms or Bloomingdale’s. We now have a unique way of talking to consumers that most brands would have never thought of. We are getting conservative brands to learn how they can understand their customers from the cannabis perspective, and it’s not easy. But it is fun to teach people the many new ways to story tell in this world, and it’s exciting to think that Fyllo is destigmatizing this world.

We also bring in a compliance approach because there are a lot of questions around compliance, safety, and so on. Our board and team is very sound, which differentiates us as well. It creates comfort in clients to work with a team of the pedigree we have.

Which tips would you recommend to your colleagues in your industry to help them to thrive and not “burn out”?

I would advise a constant forward-thinking mindset to try and decipher what’s ahead. Cannabis is a tough market. At first it’s exciting and new, and then you realize there is a lot that needs to be done. If you’re stagnant on challenges and don’t know how to get through them, you will burn out because you’re defeated. You should constantly want to learn more, especially in this very interesting industry where there is so much to learn. Once you’re aware of all of the opportunities it has to offer, it gets to be really exciting. Be proactive in a space that’s constantly innovating.

None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story?

My day-to-day motivation is my wife. She was there when I began my career and has supported me through all of my endeavours, sacrificing a lot for me to follow my ambitions. And she pushed me the whole way. It was a whole different type of sacrifice leaving my financially secure job to start my own company, and I wouldn’t be where I am with Fyllo if she didn’t support me.

Ok thank you for all that. Approximately how many users or subscribers does your app or software currently have? Now let’s shift to the main focus of this interview. Can you share with our readers three of the main steps you’ve taken to build such a large community?

Fyllo services some of the industry’s leading MSOs, SSOs, D2C brands and law firms, and other legal professionals use CannaRegs to keep pace with compliance and category growth.

Our first step was business development and legal. We searched for the proper partnerships and channels across the cannabis space and also the mainstream space. It’s our partners who allow us to bring in that comprehensive ecosystem.

Second step was building an experienced engineering team to create the cleanest, easiest user experience possible.

The last step was to find the best sales professionals and properly train them on our products. Our sales team is crucial in really understanding potential client’s needs and explaining how Fyllo can address them.

What is your monetization model? How do you monetize your community of users? Have you considered other monetization options? Why did you not use those?

The Fyllo Compliance Cloud spans multiple products, markets, users and use cases. We help customers accomplish goals in data, marketing, mdia, compliance and more. As a result, there are myriad monetization models, providing us with diverse revenue streams.

Based on your experience and success, what are the five most important things one should know in order to create a very successful app or a SaaS? Please share a story or an example for each.

As I have been saying, the most important aspect to have when building really any type of company is a professional and supportive team. Next, you need a clear vision to guide your actions and decisions, and to motivate your staff. Third, you won’t be able to continue building out your company unless you have grit. Fourth factor of a successful SaaS is the sales team. You need the right group of salespeople to commercialize your product or service. Lastly, you need the proper investors who really believe in your vision to back your growth.

You are a person of great influence. If you could start a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. 🙂

I am lucky enough to have Fyllo be a part of a movement where we continue the journey to destigmatize and realize the full potential of cannabis.

How can our readers follow you on social media?

Instagram — @hellofyllo

Twitter — @hellofyllo

This was very inspiring. Thank you so much for joining us!

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