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Cannabis-Focused Recruiting Company Vangst Closes $10M Series A Financing Round

January 25, 2019 1:45 pm
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Karson Humiston, founder and CEO of the largest staffing and recruiting agency in the cannabis industry, made it on Benzinga’s list of 20 women set to dominate the space in 2019. After all, her company Vangst has helped thousands find jobs in the nascent legal marijuana industry.

“As a relatively new industry, cannabis offers so much opportunity for women to come in and make their own way — creating businesses, products and focusing on issues or causes they are passionate about,” Humitson told Benzinga at the time.

On Friday, Vangst announced it closed an over-subscribed $10 million Series A financing round, taking the total amount of dollars raised by the company to date to $12.5 million. The round was led by Snoop Dogg’s cannabis-focused VC fund Casa Verde Capital, and included Lerer Hippeau and other big investors.

First-Mover Advantage

“What began as an observation and an idea three years ago, combined with a lot of hard work, has resulted in Vangst becoming the go-to provider of human capital to the cannabis industry,” Humiston told Benzinga. “From growers to vertically-integrated multi-state operators, Vangst actively serves a network of more than 600 companies across the entire cannabis ecosystem.

Vangst is well-positioned to further capitalize on its first-mover advantage. Humitson said she's especially encouraged by the early acceptance of Vangst GIGS, which has set the stage to dramatically expand on-demand employee platform across North America.

“Vangst has proven itself in both its vision and ability to execute – and in short order has become the unquestionable leader in providing human capital services to the cannabis industry. In lockstep with the overall industry, Vangst has experienced incredible growth,” said Karan Wadhera, Managing Partner at Casa Verde Capital, in a press release.

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