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Young Entrepreneur

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YEC Member Ryan Smith's Company LeafLink Raises $1 Million Seed Round

ryan (2)YEC member company LeafLink recently raised $1 million in seed funding from real estate investors and New York angel investors.

LeafLink, which launched its beta technology in early 2016, is a wholesale order management platform that makes it easy for cannabis retailers to order from the brands they love. The platform will offer a suite of sales and ordering tools that will simplify and streamline the tracking, ordering and communication process for vendors and retailers, offering the ease of a B2C transaction in the B2B space.

CEO and co-founder Ryan Smith started the company in November 2015 with CTO Zach Silverman. "We started LeafLink because as entrepreneurs, we believe in empowering cannabis professionals with the tools they need to build successful brands. Our software will make it easier for retailers and vendors to grow their businesses by offering the tools that are often taken for granted in other multi-billion dollar industries, but are sorely needed in the cannabis market," says Smith. "Due to the complex regulatory and compliance environment, any software solution from another industry doesn't fit. We are working directly with cannabis professionals to create a platform that will simplify a wholesale ordering process that is specific to the industry."

Smith was recently mentioned on Forbes' "30 Under 30" list for Entreprise Tech. He is the first member of the cannabis industry to make the annual list. According to Forbes, "by creating supply chain tools similar to those found in the booze business, the company hopes to eventually be a universally accepted way for weed buyers and sellers to exchange information and goods."

You can read more about the new company and raise here.