Wholesale cannabis platform LeafLink snags $100m Series D

• The investment will be used by LeafLink to support its platform functionality
• Also, LeafLink co-founder and CEO Ryan G. Smith will become executive chairman while President and Chief Operating Officer Artie Minson has been promoted to president and CEO
• Karan Gupta has joined LeafLink as chief technology officer

New York City-based LeafLink, a wholesale cannabis platform, has raised $100 million in Series D funding. CPMG, L2 Ventures and Nosara Capital are the lead backers.

The investment will be used by LeafLink to support its platform functionality.

In addition to the funding, LeafLink has also announced several executive leadership changes, effective February 1, 2023. Co-founder and CEO Ryan G. Smith will become executive chairman. President and Chief Operating Officer Artie Minson has been appointed president and CEO. Karan Gupta has joined LeafLink as chief technology officer. And, co-founder and current CTO Zach Silverman has transitioned into a senior advisor role.

“Despite recent headwinds, the cannabis industry is poised for significant growth in the years ahead. Since the Company’s inception, our team has built solutions that solve some of the industry’s most critical problems. The Series D financing provides us with a strong balance sheet that will enable continued innovation alongside our customers,” said Ryan G. Smith, executivce chairman of the board of directors at LeafLink, in a statement. “I’m proud to have served as CEO since LeafLink’s founding and am excited to transition into the role of Executive Chairman where I’ll remain deeply committed to LeafLink and the industry as a whole. I look forward to supporting and empowering the team in their roles.”

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.