MERRY JANE: So what’s the elevator pitch for Simplifya, and how do we pronounce it?
Marion Mariathasan: Simplifya is a regulatory and operational compliance company. We take state and local regulations and simplify them down, so the can be understood by any type of individual. We turn them into yes or no questions within our software, so licensed businesses can self-audit and make sure they’re playing by the rules that have been set forth by state and local regulators.
Do people use Simplifya while they’re putting together their licensing applications, or only after they’ve been licensed?
In California, they’re doing it in tandem. There are banks that mandate that Simplifya be used if they want to bank their money. It’s not just a compliance software; we actually have a feed within Simplifya. State and/or local regulations change, so to be on top of it, people do it on a monthly basis, so they can have audit reports handy and available if regulators walk in.
How much does the software cost?
The pricing varies state by state. In California, the state checklist is $80, and a local
is $49 per jurisdiction; $10 for each additional. Anyone who has a license Simplifya should be their tool of choice.
How is Simplifya funded?
I was one of original investors; I’m also CEO. We raised three rounds: a Founders Round, Series A, and we just closed Series B. In total, we’ve raised $4.2 million. Some of the top investors in the industry are behind Simplifya: Media Capital out of New York was the lead on Series B, and Hyper Ventures was the lead in our Series A. When you’re dealing with so much regulatory content, there’s a lot of value in what we do.
Indopedia All Things Marijuana
