LeafLink, an NY-based wholesale management platform for the cannabis industry, has closed a $750k seed round led by group of NY angel investors.
The software platform is designed to support participants in a B2B supply chain, providing basic tools designed to save money for retailers and allow producers to get better pricing for their product.
These tools will include a centralized location to view correspondence between buyers and suppliers, inventory and order tracking tools, and a portal to discover new products and services so users can source leads and close deals from within the platform.
Founders Ryan Smith and Zach Silverman explained that they “believe cannabis regulation and distribution is moving toward mimicking the alcohol industry with regional distributors and nonsensical supply chain participants”. By focusing on creating a supply chain similar to the alcohol industry, the company hopes to eventually be the universally accepted way for buyers and sellers to exchange information and goods.
The company noted that while their solution will ideally reduce prices for the end-user, they are wholly focused on creating B2B supply chain relationships, as opposed to retail-focused POS technology like Green Bits.
The site will launch in Q1 of 2016, but is currently accepting signups for its closed beta.