Cannabis industry workforce management company Wurk acquired $3.2 million in a bridge funding round. Poseidon Asset Management led the round, which included Phyto Partners, Altitude Investment Partners, Arcview Investor Network, and Arcadian Fund.
The company – which helps cannabis companies manage payroll, human resources, timekeeping, scheduling, and tax compliance – streamlines operations and minimizes compliance risks by using its expertise with local and national agencies to automate the complex paperwork process involved on clients’ behalf. The platform is designed to scale nationally with the growth of the cannabis industry, while incorporating the local laws and regulations unique to each individual state.
Wurk plans to utilize its funding to make key strategic hires and further build out its cannabis labor management technology.