Over the past three years, Chad Bronstein has raised over $100 million across public and private markets, and he’s only getting started. The entrepreneur is the brains behind three successful companies, Fyllo, WeSana and Tyson 2.0, which provides a wide range of services in cannabis and psychedelics. Bronstein is here to help the cannabis industry grow in the myriad of ways that he can.
While Bronstein’s full-time job is as the founder and CEO of Fyllo, he wears many hats as the executive chairman and co-founder of WeSana and the chairman of Tyson 2.0, which he co-founded with Mike Tyson. As head of Fyllo, his main day-to-day gig, there are already over 4,500 brands employing their services and buying data on a daily basis.
Fyllo Knows Data
Fyllo’s reach is extensive in the cannabis industry. The company is assisting cannabis supply chains with compliance-first solutions to handle the industry’s regulatory environment, as well as opening their eyes to their customers’ true interests. “That’s what we’re able to tell brands now,” Bronstein said. “This customer has a different attribute that you’re not targeting, different behaviors that you don’t know just by his typical behaviors, and that’s what we do.”
Given that the cannabis industry is constantly evolving, Fyllo wants to keep companies up to speed. “The key is the markets change all the time and local jurisdictions are ever-changing, and it’s hard to stay afloat with what’s going on in those local jurisdictions,” Bronstein said. “What we’ve been able to do is have real time automation that allows the top MSOs, SSOs and brands to stay ahead of what’s going on in the global markets.”
Bronstein is not an entrepreneur in the cannabis space who’s all talk. He always backs himself up with the facts and the stats. “And we’ve done it—you see New York, New Jersey and Connecticut come on board, we are prepared for it,” he added. “Now a lot of the law firms are using our platform as new states come on board. And so, I think that’s what the market likes about us; we make it easier for them to be able to stay on top of all the regulations.”
Ensuring Brand Synergy and Skyrocketing Sales
Bronstein sees his company as a “flywheel,” doing a bit of everything with the simple goal of making business simpler for its partners. “Columbia Care, for example, they work with us for compliance, they work with us for SMS and MMS, because of 10 DLC,” he added. “They work with us for advertising, driving sales into their stores, and they work with us for compliance. The biggest thing that when we started Fyllo was, to solve fragmentation, not to have to use multiple different platforms for different things. Our whole premise of Fyllo is to make it more synergistic. We are building a full-scale flywheel that makes cannabis operations easier.”
To make operations easier, Fyllo aims to expand companies’ brand, reach, and of course, sales. “We work with all the major MSOs, SSOs and brands, because as we know, cannabis is a very performance-driven space, and we’re showing that [in that] the space we’re able to drive within sales,” Bronstein said. “I think that now brands are starting to realize, and MSOs, that brand equity matters, and you can have a big presence in the Midwest, but in the West Coast, you don’t have that presence. Brands are starting to realize they have to actually start to even advertise that top of the funnel, because in cannabis, mostly everything is lower funnel. Let’s drive sales; everything’s monetary. Now they’re starting to realize, okay, we need to really build brand equity across the region, so people know when they’re walking into California, that they’re getting the same product that they walk in to get in Illinois.”
Building Top Brands
Fyllo has created plenty of goodwill and opportunities for Bronstein in the cannabis industry. The company led to his partnering with Mike Tyson and WeSana, which is a life science company focused on treating traumatic brain injury and mental illness through psychedelics. “Tyson 2.0 is something that stemmed from Fyllo and WeSana when I met Mike,” Bronstein recalled, “And because of my relationships in the cannabis space, I was able to really structure and create a good brand around Tyson 2.0.”
The brand had a successful launch in Colorado, and by January, will expand to 17 markets, including California. “The key for me is finding really good CEOs, so that if I start a company, that I have a good operator run it, and I was able to find that for Tyson 2.0,” Bronstein added. “And then me and Daniel partnered on WeSana, and we just have really good teams in place.”
“Daniel” is none other than the two-time Stanley Cup winner, Daniel Carcillo, who played for the Chicago Blackhawks. WeSana now does positive, not only successful, work with the World Boxing Council and The University of South Carolina. “The story is that Carcillo reached out to me on LinkedIn and said, ‘I see what you’re doing at Fyllo, I’d like to talk to you about what I’m doing in CBD and psychedelics,’” Bronstein said. “I fell in love with the story. I wanted to jump on that train, because I knew a lot about psychedelics and invested in it.”
Bronstein was moved by Carcillo’s story, which involved treating a series of concussions and 164 fights with the treatment of psychedelics. “We said, ‘fuck it, what’s another challenge to go into destigmatizing something?’” Bronstein added. “I was passionate about Daniel’s story, and how he cured himself with it. I asked Aristotle Loumis, who’s also a part of Fyllo and a couple other people, ‘Hey, you want to come help when I build this with Daniel?’ And they said, yes, and so we put some resources together and got up-and-running.”
Bronstein’s goal isn’t only to expand in the world of sports, but to also ensure progress in the study and treatment of trauma through psychedelics. “The passion that Daniel had was to help not just athletes, but also women of domestic abuse, veterans, properly prepare for injury or treatment afterwards so that they’re optimizing their brain health,” Bronstein said. “I think that at the end of the day, we’re trying to expand. I would say NASCAR is another one where in the racing world, we’ll expand to. NFL, I can’t speak on their behalf yet, but that’s something obviously we would like to pursue. It probably needs this level of treatment and, like we said, destigmatizing, that’s why we partnered with Mike, the World Boxing Council, and other groups that are willing to be more proactive to bring this kind of care.”
The Ultimate Bronstein Key to Success
It goes without saying, but Bronstein has plenty on his plate to manage on any given day. The entrepreneur never has a typical workweek or workday. Every day is an exciting new challenge. “I couldn’t be here without my investors and my team,” he said. “I think when people ask me this question a lot, ‘Chad, are you focused? Do you have enough time to do all the things you do?’ And my answer is I do, and I am focused, because I have a good team behind me to delegate and execute, and investors that support us.”
Not only do those investors support Fyllo, but they also trust the company leadership. “When you look at the synergies between companies, all the same investors invested in each company, which means that they believe in our recipe for success,” Bronstein added. “They believe that I do have the time to focus, and that we have the right team behind us to execute. I think that’s the key to my success, is building the team and having the right players behind me that believe in what we’re doing and that are along for the ride.”
Always surround yourself with the best, as they say. Bronstein, who studied sociology in college and originally didn’t imagine a career in the cannabis industry, is as much of a driven teambuilder as he is a businessman. “My passion is working with people and building teams,” Bronstein concluded, “and that’s why I was able to start other companies as well as Fyllo, because it’s all about the person that runs the team that I’m behind that person, and so that’s my skill set.” With the right team behind him, once again, Chad Bronstein is only just getting started.
Read this story originally published in High Times February 2022 Issue in our archive.