Vangst Raises $19M Series B Funding

Vangst, a Denver, CO-based cannabis industry’s hiring platform, closed a $19m Series B financing.

The round was led by Level One Fund, with participation from previous investors including Lerer Hippeau, Colle Capital, Casa Verde Capital, Phyto Partners, and new investors including L2 Ventures, Althea, Delta Emerald Ventures, Achari VC and others.

The company intends to use the funds:

  • to launch products that support both cannabis businesses and employees, including training and  employee payment solutions, and
  • to expand its platform into new markets.

Led by Karson Humiston, Founder and CEO, Vangst provides a platform that allows cannabis businesses across the U.S. to streamline the hiring process by matching both full-time employees as well as vetted, credentialed, W2, on-demand GIG workers. The company currently works with 1,200 cannabis businesses, including Green Thumb Industries, Dutchie and Holistic Industries. As the first and only gig platform in cannabis, Vangst has filled over 150,000 part-time gigs since launching the product in 2018.