Total amount raised
$149 Millions
Latest funding date
2/1/2023
Location
LeafLink has successfully raised funds through multiple rounds, with the most recent being a Series D round closed on February 1, 2023. The platform connects cannabis brands and retailers, offering a comprehensive software ecosystem for wholesale cannabis commerce.
Keep reading to explore the intricacies of LeafLink's fundraising journey and the investors backing this innovative platform.
What Is LeafLink?
LeafLink, founded in 2016 by Ryan Smith and Zach Silverman, is headquartered in New York, New York. The company offers a wholesale management platform that connects cannabis brands and retailers, streamlining the ordering process and simplifying communication.
With a team of 101-250 employees, LeafLink provides tools for browsing, purchasing, and managing wholesale cannabis products. Their platform includes secure digital payments and logistics services for inventory storage and order fulfillment.
LeafLink's software ecosystem is trusted by buyers and sellers in 30 markets, helping to consolidate costs, simplify ordering, and gain data insights.
How Much Funding Has LeafLink Raised?
- Angel Round
- Amount Raised: $1M
- Date: November 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the platform and launch operations.
- Seed Round
- Amount Raised: $3M
- Date: April 2017
- Lead Investors: Lerer Hippeau
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Series A
- Amount Raised: $10M
- Date: November 2017
- Lead Investors: Nosara Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series B
- Amount Raised: $35M
- Date: August 2019
- Lead Investors: Thrive Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market reach and improve platform features.
- Debt Financing
- Amount Raised: $250M
- Date: July 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to the cannabis supply chain.
- Series C
- Amount Raised: $40M
- Date: December 2020
- Lead Investors: Founders Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform functionality and support growth.
- Series C
- Amount Raised: $40M
- Date: July 2021
- Lead Investors: L2 Ventures, Nosara Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling and improving the platform.
- Funding Round
- Amount Raised: Not publicly disclosed
- Date: April 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and growth.
- Series D
- Amount Raised: $100M
- Date: February 2023
- Lead Investors: CPMG, L2 Ventures, Nosara Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform functionality and support evolving customer needs.
Total Amount Raised: $479M. Current Valuation: Not publicly disclosed.
Key Investors
- CPMG
- Details: CPMG is a private investment firm that focuses on long-term value creation. They have a history of investing in various sectors, including technology and healthcare.
- Investment Focus Areas: Technology, healthcare, industrials.
- Notable Investments: Not publicly disclosed.
- L2 Ventures
- Details: L2 Ventures is a venture capital firm that invests in early-stage and growth-stage companies. They aim to support innovative businesses with high growth potential.
- Investment Focus Areas: Technology, consumer products, healthcare.
- Notable Investments: Not publicly disclosed.
- Nosara Capital
- Details: Nosara Capital is a venture capital firm that focuses on investing in disruptive companies. They have a strong interest in the cannabis industry and other emerging markets.
- Investment Focus Areas: Cannabis, technology, consumer products.
- Notable Investments: Not publicly disclosed.
- Founders Fund
- Details: Founders Fund is a San Francisco-based venture capital firm known for its investments in groundbreaking companies. They have a diverse portfolio across various industries.
- Investment Focus Areas: Technology, aerospace, healthcare.
- Notable Investments: SpaceX, Airbnb, Stripe.
- Lerer Hippeau
- Details: Lerer Hippeau is a New York-based venture capital firm that invests in early-stage companies. They are known for their hands-on approach and extensive network.
- Investment Focus Areas: Technology, media, consumer products.
- Notable Investments: BuzzFeed, Warby Parker, Glossier.
What's Next for LeafLink?
LeafLink stands at the cusp of significant growth opportunities, driven by the expanding legalization of cannabis across the U.S. The platform's ability to process $5 billion in annual transactions and serve 50% of the U.S. wholesale cannabis market underscores its potential. With the recent $100 million Series D funding, LeafLink is poised to enhance its platform functionality, deepen customer relationships, and broaden its market reach.
Future fundraising appears promising, given the company's strong balance sheet and growth trajectory. Additional funding rounds could support further innovation and expansion. However, challenges such as navigating regulatory complexities and maintaining compliance across varying state laws remain. Ensuring operational efficiency and scalability will be crucial as LeafLink continues to grow.
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