Josh Kushner's Thrive Capital Enters Cannabis Space, Leads LeafLink's $35M Series B Round
Aug 8, 2019
The cannabis wholesale marketplace LeafLink announced the completion of a $35-million Series B funding round Wednesday. The round was led by Thrive Capital, with additional participation from Nosara Capital, Lerer Hippeau, Wisdom VC and Thought Into Action Ventures. The funding will be used to drive LeafLink’s expansion of its wholesale marketplace, which already processes over $1 billion in e-commerce orders each year, the company said. The funds will also go toward the company’s expansion plans, including recruitment efforts in both its Los Angeles and New York offices. A particular focus is being put on the company’s LeafLink Financial feature, which offers businesses a payment and credit managing system. Don’t miss out on the top cannabis stories of the day. Click here to sign up for our daily insider newsletter. “Two years ago, we welcomed Lerer Hippeau to the cannabis industry in our seed round, and we are proud to now welcome Thrive Capital to the space through their investment in LeafLink,” LeafLink co-founder and CEO Ryan Smith said in a statement. “We look forward to solidifying our place as a leader in this rapidly evolving industry by bringing the best products and solutions to the LeafLink community and beyond.”
Thrive Capital, founded in 2009 by Josh Kushner, is entering the cannabis space with this investment. Kushner is the brother of Jared Kushner, senior advisor and son-in-law to President Donald Trump.