The investment is an indicator of the value the US cannabis market is going to provide
LeafLink is known for having the leading wholesale cannabis platform in the industry. Its various strategic moves continue to position it at the top of the sector. Its recent $100 million Series D financing led by CPMG, L2 Ventures, and Nosara Capital is a clear example of this. Together with the participation of existing investors, the event seems to have reached great levels of success and the company said that the investment will be funded in two tranches.
In addition to the recent multi-million dollar raise, the firm has also announced a number of changes to the executive leadership team. LeafLink believes that such a move is necessary to drive the company’s evolution, something that has been ongoing since its founding in 2016.
LeafLink’s growth has been so tremendous that it is now known as one of the most important partners for brands and retailers in the legal marijuana industry. With a presence in 30 states, the platform serves approximately 50% of the US cannabis wholesale industry. Thanks to the money raised through the Series D investment, the firm will have the ability to support the evolution and operational needs of its enormous customer base through optimized platform functionality.
Ryan G. Smith, who will now take on the role of CEO, will focus on long-term strategic initiatives, client relationships, innovation, and government relations. “I’m proud to have served as CEO since LeafLink’s founding and am excited to transition into the role of Executive Chairman, where I’ll remain deeply committed to LeafLink and the industry as a whole. I look forward to supporting and empowering the team in their roles,” he commented.