Cannabis recruitment platform Vangst raises $19 million
Vangst, a recruitment firm focused on the cannabis industry, raised $19 million in a Series B financing round.
The funding, led by venture capital firm Level One Fund, "highlights the company's growth over the last three years alongside the maturing cannabis industry," Vangst said in a Thursday news release.
The Denver-based company said it will use the $19 million to expand into new markets "to support the influx of jobs" as "cannabis employment is expected to grow over 100% by 2025."
The capital would also be used to launch new products, "including training and employee payment solutions," according to the release.
Vangst said it currently works with more than 1,200 cannabis businesses and its on-demand hiring "gig platform" has filled more than 150,000 part-time roles since launching in 2018.
The company announced a $10 million Series A financing round in 2019.
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