Wurk has raised an additional $2 million in an extended seed round. The extended round was led by Poseidon Asset Management, with Phyto Partners, Salveo Capital and The Arcview Investor Network.
Wurk’s platform is a workforce compliance platform to help cannabis businesses with background checks of new hires, managing employees’ schedules, benefits, and training, as well as payroll. Additionally, Wurk provides tools to ensure compliance on both a state and federal level for companies looking to structure themselves for the future.
The capital will be used to fund key executive hires as well as expand more quickly into newly opened, legal cannabis markets. “With eight new markets emerging in November, including the passing of Prop 64 in California and the new administration’s focus on compliance, we knew we would need to scale the business quicker to meet this demand,” said Keegan Peterson, Wurk’s CEO. “We are a service based organization. The more businesses we can reach, the more people we can help. Our new funding gives us the ability to scale our business in a way that helps us keep up with the demands of this evolving and growing marketplace.”
Peterson with his passion for helping organizations (large and small) improve the quality and quantity of their workforce by utilizing technology solutions, led him to the launch of Wurk in 2015. As Wurk continues to expand it is now in 12 states supporting operators with solutions like 280e reporting, state- specific employee onboarding, and payroll management as part of a full suite platform.
The company’s new executive hires include Matt Kelly as the Chief Financial Officer and Jay Meyers as the Chief Revenue Officer.
The additional funding brings Wurk’s total seed round to $3 million.