Cannabis marketplace LeafLink just raised $10 million in Series A funding to set the stage for the industry’s supply chain.
LeafLink took what was once a manual, disheveled process — orders would be placed through text message or email — and turned it into one that’s streamlined. Through their platform, licensed buyers access live menus, add items to their cart and check out. From there, LeafLink's system distributes the orders to each seller.
“Our team believes entrepreneurs and growing companies in the cannabis industry deserve all the same, powerful tools as other multi-billion dollar industries,” said CEO and co-founder Ryan Smith.
We have a very special opportunity to define, rather than disrupt, this industry from the very beginning."
The company currently has offices in New York, Denver and Los Angeles, with team members distributed across Washington, Oregon, Arizona and Nevada. Smith noted that the short-term goal for the company is to expand to new markets — despite regulation or compliance — and eventually become the standard platform for legal, professional cannabis companies.
“We have a very special opportunity to define, rather than disrupt, this industry from the very beginning,” he said. “As the market continues to grow, it's very important for us to be in all the states where our clients need our support; historically, that's been predominantly on the west coast but is quickly changing as the industry goes mainstream.”
The funding was led by Nosara Capital, with participation from investors inside and outside the cannabis industry. Lerer Hippeau Ventures, Wisdom VC, Phyto Partners, TIA Ventures, Brand New Matter and Casa Verde Capital — where rapper Snoop Dogg is a partner — all participated.