Wurk Raises $1 Million to Help Cannabis Companies Manage Their People
A “pottech” company called Wurk has raised $1 million in seed funding to help cannabis businesses such as dispensaries or growers to comply with all the different regulations coming into play around the burgeoning, legal cannabis industry.
The seed deal closed before various ballots are voted on today in the U.S., that could make the sale and use of marijuana legal for adults in a broad number of new markets.
Wurk CEO Keegan Peterson said his company’s software-as-a-service helps cannabis businesses do everything from background checks of potential new hires, to managing employees’ schedules, benefits, training, and making sure they get paid on time.
When HR tech, including platforms to manage employees abound, why did the cannabis industry need to, er, roll its own?
“For one, banking in this industry is virtually impossible,” the CEO said.
Cannabis is still deemed a Schedule I controlled substance at the federal level, so large banks aren’t permitted to finance (most) cannabis companies.
Peterson...
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