Wurk, a Denver, CO-based Human Capital Management company for the cannabis industry, raised $11m in funding.
The round was led by returning investors Poseidon Asset Management and Arcadian Fund, with participation from existing investors Altitude, Salveo Capital, Phyto Partners and The Arcview Group.
The company plans to use the capital to enhance the client experience while expanding its cannabis HCM platform, including the launch of managed services, and implement an analytics engine to provide data for the cannabis industry, allowing employers to increase operating efficiencies by benchmarking themselves against industry best practices.
Led by Keegan Peterson, Founder and CEO, Wurk provides a Human Capital Management platform for cannabis companies to manage payroll, human resources, timekeeping, scheduling and tax compliance, and minimizes compliance risks in the cannabis regulatory environment. The company uses its expertise and partnerships to provide guidance on 280E tax law, accounting and banking.
The platform is designed to scale nationally with the growth of the industry, while incorporating the local laws and regulations unique to individual states.