NEWS BRIEF

Cannabis online platform raises $10 million

LeafLink, an online inventory and ordering platform for marijuana businesses, has raised $10 million in Series A funding.

The round was led by Nosara Capital, a London-based venture capital firm, according to a LeafLink news release.

Nosara was joined by previous LeafLink investors from both inside and outside the cannabis space, such as Lerer Hippeau Ventures, Casa Verde Capital, Wisdom VC, Phyto Partners, TIA Ventures, and Brand New Matter.

The Series A funding comes on the heels of a $3 million raise in April that was led by Lerer Hippeau Ventures.

According to LeafLink’s release, the capital from the latest raise will be used to double the size of the company’s engineering, sales, client support and marketing teams.

The company, which launched in March 2016, also plans to “enhance” its core B2B marketplace, which includes customer- and order-management tools, data reporting, order status tracking and a fulfillment queue for vendors.

LeafLink claims more than 1,700 retailers and 400 cannabis brand clients in California, Colorado, Oregon, Washington, Nevada and Arizona, according to the release.

LeafLink – which has offices in New York, California and Colorado – said it “is on track” to hit $500 million in orders through its platform in 2018 and will launch in 10 new states through 2018.

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