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.”
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