Total amount raised
$149 Million
Latest funding date
2/1/2023
Location
LeafLink has successfully raised funding over 9 rounds, with the latest being a Series D round involving investors such as CPMG, L2 Ventures, and Nosara Capital. The platform connects cannabis brands and retailers, offering streamlined ordering and data insights.
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, is a software platform that streamlines wholesale cannabis commerce. Based in New York, the company connects cannabis brands and retailers, offering services such as marketplace listings, payment processing, logistics, advertising, and data insights.
Operating in industries like B2B, SaaS, and wholesale, LeafLink has an employee count ranging from 101 to 250. The platform is trusted by buyers and sellers in 30 markets and has processed over 5 million wholesale cannabis transactions, aiming to simplify the ordering process and provide valuable data insights.
How Much Funding Has LeafLink Raised?
- Angel Round
- Amount Raised: USD 1,000,000
- Date: November 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial technology.
- Seed Round
- Amount Raised: USD 3,000,000
- Date: April 2017
- Lead Investors: Lerer Hippeau
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and market reach.
- Series A
- Amount Raised: USD 10,000,000
- Date: November 2017
- Lead Investors: Nosara Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technology infrastructure.
- Series B
- Amount Raised: USD 35,000,000
- Date: August 2019
- Lead Investors: Thrive Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and market expansion.
- Debt Financing
- Amount Raised: USD 250,000,000
- 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 (December 2020)
- Amount Raised: USD 40,000,000
- Date: December 2020
- Lead Investors: Founders Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform functionality and support customer needs.
- Series C (July 2021)
- Amount Raised: USD 40,000,000
- 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.
- Undisclosed 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: USD 100,000,000
- 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 customer needs.
Total Amount Raised: USD 479,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- CPMG
- Details: CPMG is a private investment firm that participated in LeafLink's Series D funding round.
- Investment Focus Areas: General private investments.
- Notable Investments: Not specified.
- L2 Ventures
- Details: L2 Ventures is a venture capital firm that co-led the Series D funding round for LeafLink.
- Investment Focus Areas: General venture capital investments.
- Notable Investments: Not specified.
- Nosara Capital
- Details: Nosara Capital is a venture capital firm that has been involved in multiple funding rounds for LeafLink, including the Series D.
- Investment Focus Areas: General venture capital investments.
- Notable Investments: Not specified.
- Founders Fund
- Details: Founders Fund is a venture capital firm known for investing in early-stage companies and participated in LeafLink's Series C round.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Facebook, SpaceX, Airbnb, Stripe.
- Lerer Hippeau
- Details: Lerer Hippeau is a venture capital firm that invests in early-stage companies and led LeafLink's Seed round.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: BuzzFeed, Warby Parker, Allbirds.
What's Next for LeafLink?
LeafLink stands at the cusp of significant growth opportunities, driven by the expansion of its platform functionalities and the increasing legalization of cannabis across the U.S. With a market presence that covers approximately 50% of the U.S. wholesale cannabis industry, the potential for further growth is immense. The recent $100 million Series D funding will enable LeafLink to enhance its offerings and support the evolving needs of its customers.
Future fundraising opportunities appear promising, given the strong balance sheet and investor interest demonstrated in the Series D round. As LeafLink continues to innovate and expand, additional funding rounds could be on the horizon to support its strategic initiatives and market expansion. However, the company will need to navigate regulatory complexities and maintain operational efficiency to sustain its growth trajectory.
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