Wurk, the first human capital management company for the cannabis industry, raised $11 million in a funding round led by returning investors Poseidon Asset Management and Arcadian Fund. Existing investors Altitude, Salveo Capital, Phyto Partners, and The Arcview Group also participated in the round.
Wurk plans to utilize the capital to expand its cannabis HCM platform, including the launch of managed services, providing its customer base with dedicated human resource, payroll, and tax experts. The company also plans to implement an analytics engine to provide sought-after data for the cannabis industry, allowing employers to increase operating efficiencies by benchmarking themselves against industry best practices.