Steep Hill Labs has finalized a $2 million private investment round, funds the marijuana testing company plans to use to scale up its operations.
Jmichaele Keller, CEO of California-based Steep Hill, said in a news release that an investor from a traditional money manager role on Wall Street invested $1.5 million of his personal funds into the company.
Steep Hill has grown over 30% with the addition of 10 new positions since the beginning of the year, according to the release.
The company has been expanding its national and international footprint. Aside from California, Steep Hill also has labs in Alaska, Hawaii, Maryland, New Mexico and Washington state, according to its website.
In March, Steep Hill secured a partnership with an Israeli medical marijuana company to start a testing lab in Israel.