Throughout his career, Fowle has overseen several divisions such as finance, business operations, business intelligence, and monetization operations. Before joining Akerna, he served as CFO for REV360, a SaaS and business services company, and as vice-president and controller for WELLTOK. While at WELLTOK, Fowle led the successful diligence and integration of six acquisitions valued at over $230 million. Fowle is a certified public accountant. He holds an MBA from the University of California, Irvine, and a Bachelor of Science Degree in Business Administration from the University of Southern California.
GMR Executive Spotlight Interview Q&A:
Chief Financial Officer (CFO)
Years at current company:
Most successful professional accomplishment before cannabis:
People are the most important asset in any business. From my tenure in Fortune 500 to my time in emerging growth, I have mentored and managed many individuals, with varied backgrounds, across North America, Europe, the Middle East, and Asia. To see them develop both personally and professionally and move on to have highly successful professional careers, and to know I played a part of that, is by far my greatest professional accomplishment.
We are passionate about solving problems that better our world. Akerna provides data-driven cannabis solutions worldwide across the entire cannabis supply chain. Our technology empowers the cannabis industry to prove outcomes that positively change lives every day.
Company’s most successful achievement:
Our CEO, Jessica Billingsley, co-founded the company that invented seed-to-sale tracking in 2010. This was done upon identifying the need for organic material tracking and compliance SaaS solutions in the nascent cannabis industry. We recognized that due to the unique complexities and needs of the industry, cannabis needed technology built for it specifically, not just adapted from other industries. We believed visibility across the entire supply chain from seed-to-sale would be a requirement for the industry’s sustained growth. Today, this type of tracking is a requirement of most states that regulate legal cannabis.
In 2017, we launched MJ Platform, the cannabis industry’s first ERP in response to the maturing of the cannabis market to multi-state enterprise businesses. We also led international expansion in the cannabis technology sector very early on in 2012 in Canada then into Spain. Today, our total footprint spans 23 states and 15 countries. Innovation and seeing what opportunities are next on the horizon – and then being ready for them first – has been a hallmark of Akerna since the inception of our flagship product MJ Freeway.
In 2019, Akerna became the first cannabis software business to be traded on a major U.S. exchange, Nasdaq (ticker KERN). This listing was an unprecedented milestone for the cannabis industry and signified a shift in beliefs and generated ripples of opportunity for the future of the industry.
Since then, we have grown the Akerna family to include many leading cannabis and alcohol technology solutions: Ample Organics, Last Call Analytics, Leaf Data Systems, MJ Freeway/MJ Platform, solo sciences, Trellis, and Viridian Sciences.
Today, Akerna is the cannabis industry’s only scaled technology provider, enabling compliance, regulation, and taxation. We provide the single most comprehensive product ecosystem for cannabis operators that have businesses across any part of the supply chain, from seed-to-sale. This provides transparency and accountability along virtually every piece of the supply chain.
Over the past decade, we have seen much change in the political and social environments surrounding cannabis. As we prepare for a post-legalization landscape and the industry continues to consolidate and mature, we firmly believe the enterprise capabilities we offer, including comprehensive compliance solutions and financial reporting integrations, will become increasingly crucial to the future leaders of the cannabis industry.
Has the company raised any capital (yes or no):
If so, how much?
Since going public Akerna has raised $22,000,000
Any plans on raising capital in the future?
We feel we are well capitalized today and continue to have institutional support and access to the markets should the need arise. We are always carefully evaluating the needs of the business to maximize long-term shareholder value.
Most important company 5 year goal:
To be the dominant provider of technology to the cannabis, hemp, and CBD industries, while also serving additional verticals by providing complete accountability and transparency to what consumers are putting in and on their bodies.