Cannabis Human Capital Firm Wurk Raises $3.5M

April 23, 2021 12:54 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Cannabis Human Capital Firm Wurk Raises $3.5M

Wurk, a human capital management company for the cannabis industry, announced this week the closing of an oversubscribed $3.5 million Series AA round of financing, completed entirely by existing investors.

The round was led by Wurk Investment Partnership, with participation from Poseidon Asset Management, Salveo Capital and The Arcview Group, among others.

Wurk currently works with 80% of the top MSOs in the nation and holds more than 70% market share in the combined medium and enterprise cannabis HRIS technology market. With the additional capital, Wurk will expand product integration capabilities and improve customer support across all touchpoints to enhance its value offering for customers. In addition, Wurk will invest in employee training programs to accelerate product knowledge and expertise. 

“As the cannabis industry continues to grow and experience complexities surrounding HCM solutions, we're looking forward to using this raise, which was funded entirely by existing investors, to continue advancing our robust, automated software as necessary to aid companies in efficiently managing and optimizing their ever-increasing workforces,” CEO Scott Kenyon told Benzinga. “We're excited to put this additional capital to good use, expanding our product integration capabilities and customer support experience across all channels to enhance value for our customers.”

Related Articles

Poseidon Launches $50M Fund To Support Post-Seed Stage Cannabis Companies

Poseidon, one of the longest-running dedicated cannabis investment funds, recently launched the Poseidon Garden Fund in partnership with CanopyBoulder founder Patrick Rea and former CanopyBoulder director of operations, Celia Daly. read more

Ascend Wellness Holdings Plans To Raise $80M Via IPO, Debut On CSE, OTCQX Best Market

Vertically integrated cannabis company Ascend Wellness Holdings, Inc. is poised to go public through an initial public offering of some 10 million shares of its Class A common stock at $8 per share. read more

Aleafia Q1 Revenue Drops 51% YoY, Medical And Rec Cannabis Revenue Increases, Reflects Product Portfolio Expansion

Aleafia Health Inc. (TSX: AH) (OTCQX: ALEAF) revealed Tuesday its revenue had dropped by 51% year-over-year to $7.07 million in the first three months of 2021. read more

Exclusive: Cannabis Inventory Management Co. Lucid Green Closes $3.1M Funding Round

Lucid Green Inc., a provider of touchless inventory management solutions for the cannabis industry, has closed a $3.1 million funding round, which included new investors, Bravos Capital and Silverleaf Ventures as well as existing investors FGCP and HALLEY Venture Partners. read more