Business
Cannabis tech platform LeafLink raises $100 million amid management shuffle
New York-based cannabis wholesale technology platform LeafLink raised $100 million in a Series D financing as its founders transition into new roles at the company.
According to a news release, the financing was led by CPMG, L2 Ventures and Nosara Capital and will come in two tranches.
Meanwhile, effective Feb. 1, co-founder and CEO Ryan Smith will assume the executive chair role.
In addition:
“The Series D financing provides us with a strong balance sheet that will enable continued innovation alongside our customers,” Smith said in a statement.
LeafLink laid off roughly 80 workers in December, attributing the cuts to both cannabis industry headwinds and macroeconomic factors.
Source: https://mjbizdaily.com/cannabis-tech-platform-leaflink-raises-100-million-amid-management-shuffle/