Vangst, the cannabis industry’s leading hiring platform, is detailing the completion of its $19 million Series B financing, noting it would aid the company’s hiring process.
The initiative was spearheaded by Level One Fund, with participation from previous investors that include Lerer Hippeau, Colle Capital, Casa Verde Capital, Phyto Partners, and new investors L2 Ventures, Althea, Delta Emerald Ventures, Achari VC, among others.
“Cannabis is an undeniably large and fast-growing market, and Vangst is the only company offering scalable recruitment solutions tailored for the industry’s unique needs,” James Stewart, managing partner at Level One Fund, said. “Few, if any industries, share the constant state of flux and unpredictability that cannabis has, and consequently, there are only a handful of founders equipped to handle the challenges that come with it. Vangst is not only an extremely effective solution to these challenges, but its founder is a true force of nature. We are proud to lead this round and support Vangst as it continues to be a crucial utility to the entire industry.”
Per Vangst, cannabis employment is expected to expand over 100 percent by 2025. The company indicates it plans to use the new funding to expand its platform into new markets to support the influx of jobs while also launching products supporting cannabis businesses and employees via training and employee payment solutions.
“The cannabis industry is one of the fastest-growing industries and job creators in the world, and Vangst is defining how cannabis businesses attract and hire talent in a brand new industry,” Vangst Founder and CEO Karson Humiston said. “We are incredibly excited for the opportunity to help thousands of people land their dream job in the cannabis industry.”