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LeafLink Raises $100 Million, Announces Leadership Team ChangesNew funding enables LeafLink to expand its suite of offerings for its industry-defining wholesale cannabis platform Ryan G. Smith named Executive Chairman, Artie Minson promoted to President and Chief Executive Officer, Karan Gupta hired as Chief Technology Officer NEW YORK, Feb. 1, 2023 /PRNewswire/ -- LeafLink, the leading wholesale cannabis platform, announced it has secured a $100 million Series D financing led by CPMG, L2 Ventures and Nosara Capital, alongside participation from existing investors. The investment will be funded in two tranches. LeafLink has implemented a series of executive leadership changes to drive the Company's evolution. Since its founding in 2016, LeafLink has grown to become a significant partner of brands and retailers in the legal cannabis industry, serving approximately 50% of the U.S. wholesale cannabis industry across 30 markets. The Series D investment enables LeafLink to support its customers' evolving technology and operational needs through enhanced platform functionality. LeafLink is evolving its executive leadership team with the following changes effective February 1, 2023:
"I'm honored to serve as LeafLink's next CEO and look forward to working with Ryan, our employees, and our Board of Directors as we continue to deliver best-in-class technology solutions for our customers. As states across the U.S. continue to legalize cannabis, we're looking forward to growing our partnership with the industry. Our continued goal is to help brands and retailers scale their businesses while operating safely, efficiently and in compliance. Since joining the LeafLink team, I've been amazed at our team's commitment and ability to deploy industry-first solutions for our customers. I'm incredibly excited about broadening our platform's capabilities and deepening our customer relationships in the next phase of the Company's growth," said Artie Minson, incoming President and CEO of LeafLink. About LeafLink LeafLink, the cannabis industry's leading B2B technology platform, is standardizing how thousands of brands, distributors, and retailers manage their operations. The Company's industry-defining tools streamline the way legal cannabis businesses create, manage, pay for, and ship their orders. LeafLink's marketplace currently processes approximately $5 billion in annual transactions, representing an estimated 50% of legal U.S. wholesale cannabis commerce. LeafLink is backed by leading venture capital firms and strategic investors, including Casa Verde Capital, CPMG, Founders Fund, Interplay, L2 Ventures, Lerer Hippeau, Nosara Capital and Thrive Capital. LeafLink has raised more than $230 million of equity to date as well as a $250 million credit facility to provide liquidity to the cannabis supply chain. Learn more at https://LeafLink.com/. Media Contact: View original content to download multimedia:https://www.prnewswire.com/news-releases/leaflink-raises-100-million-announces-leadership-team-changes-301734256.html SOURCE LeafLink |