LeafLink valuation, funding and investors

LeafLink works in cannabis commerce platform development, based in Denver, United States. Founded in 2016, it has about 115 employees.

Denver Series D

VALUATION · TODAY

$114M −42% after Series D

Range $70.8M – $288M · Grade C

TODAY

+12 MO

$200M

$400M

$600M

$800M

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

Seed $3.00M

Series A $10.0M

Series B $35.0M

Series C $40.5M

Series D $100M

ValuationBefore first round12-month outlook: where it points, how wide it fansHover the past: the outlook shows what was predicted then

HEADCOUNT · TODAY115 employees

−20%6m growth

−40%1y growth

−43%2y growth

200

400

Data from Jan 2021

TODAY

Predicted in 1 yr $65.5M −42% vs today

Predicted next raise $59.8M if a round comes

Winding-down probability 97%

Last round: Series D · $100M · Feb 2023
Valuation at last round: $500M
Headcount: 115 · shrinking
Grade: C
Founded: 2016

How VCMC values companies →

LeafLink valuation today

VCMC values LeafLink at $114M today, with a range of $70.8M to $288M and a grade of C. The valuation starts from its last funding round, a Series D round in Feb 2023.

Valuation by date (136 rows)

Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.

LeafLink: valuation by date, as the model would have shown it on each date
Date	Valuation	Range	Predicted in 1 yr	Phase	Headcount	Trend	Grade	Winding-down probability
1 Jan 2016	$5.38M	$1.96M – $14.8M	$6.45M (+20%)	before first round	–	unknown	D	0%
1 Feb 2016	$5.40M	$1.97M – $14.8M	$6.62M (+23%)	before first round	–	unknown	D	0%
1 Mar 2016	$5.42M	$1.97M – $14.9M	$6.79M (+25%)	before first round	–	unknown	D	0%
1 Apr 2016	$5.44M	$1.98M – $14.9M	$6.97M (+28%)	before first round	–	unknown	D	0%
1 May 2016	$5.46M	$1.99M – $15.0M	$7.16M (+31%)	before first round	–	unknown	D	0%
1 Jun 2016	$5.48M	$2.00M – $15.1M	$7.35M (+34%)	before first round	–	unknown	D	0%
1 Jul 2016	$5.50M	$2.00M – $15.1M	$7.54M (+37%)	before first round	–	unknown	D	0%
1 Aug 2016	$5.65M	$2.06M – $15.5M	$7.75M (+37%)	before first round	–	unknown	D	0%
1 Sep 2016	$5.80M	$2.11M – $15.9M	$7.96M (+37%)	before first round	–	unknown	D	0%
1 Oct 2016	$5.96M	$2.17M – $16.4M	$8.17M (+37%)	before first round	–	unknown	D	0%
1 Nov 2016	$6.12M	$2.23M – $16.8M	$8.39M (+37%)	before first round	–	unknown	D	0%
1 Dec 2016	$6.28M	$2.29M – $17.2M	$8.61M (+37%)	before first round	–	unknown	D	0%
1 Jan 2017	$6.45M	$2.35M – $17.7M	$8.84M (+37%)	before first round	–	unknown	D	0%
1 Feb 2017	$6.62M	$2.41M – $18.2M	$9.08M (+37%)	before first round	–	unknown	D	0%
1 Mar 2017	$6.78M	$2.47M – $18.6M	$9.30M (+37%)	before first round	–	unknown	D	0%
1 Apr 2017	$6.97M	$2.54M – $19.1M	$9.55M (+37%)	before first round	–	unknown	D	0%
4 Apr 2017	$12.0M	$7.88M – $36.5M	$24.0M (+100%)	after a round	–	unknown	C	0%
1 May 2017	$12.7M	$7.88M – $36.5M	$24.0M (+90%)	after a round	–	unknown	C	0%
1 Jun 2017	$13.4M	$7.88M – $36.5M	$24.0M (+79%)	after a round	–	unknown	C	0%
1 Jul 2017	$14.2M	$7.88M – $36.5M	$24.0M (+69%)	after a round	–	unknown	C	0%
1 Aug 2017	$15.1M	$7.88M – $36.5M	$24.0M (+59%)	after a round	–	unknown	C	0%
1 Sep 2017	$16.0M	$7.88M – $36.5M	$24.0M (+50%)	after a round	–	unknown	C	0%
1 Oct 2017	$16.9M	$7.88M – $36.5M	$24.0M (+42%)	after a round	–	unknown	C	0%
1 Nov 2017	$17.9M	$7.88M – $36.5M	$24.0M (+34%)	after a round	–	unknown	C	0%
21 Nov 2017	$40.0M	$28.1M – $102M	$71.8M (+80%)	after a round	–	unknown	C	0%
1 Dec 2017	$40.6M	$28.1M – $102M	$71.8M (+77%)	after a round	–	unknown	C	0%
1 Jan 2018	$42.7M	$28.1M – $102M	$71.8M (+68%)	after a round	–	unknown	C	0%
1 Feb 2018	$44.9M	$28.1M – $102M	$71.8M (+60%)	after a round	–	unknown	C	0%
1 Mar 2018	$46.9M	$28.1M – $102M	$71.8M (+53%)	after a round	–	unknown	C	0%
1 Apr 2018	$49.3M	$28.1M – $102M	$71.8M (+46%)	after a round	–	unknown	C	0%
1 May 2018	$51.8M	$28.1M – $102M	$71.8M (+39%)	after a round	–	unknown	C	0%
1 Jun 2018	$54.4M	$28.1M – $102M	$71.8M (+32%)	after a round	–	unknown	C	0%
1 Jul 2018	$57.1M	$28.1M – $102M	$71.8M (+26%)	after a round	–	unknown	C	0%
1 Aug 2018	$60.0M	$28.1M – $102M	$71.8M (+20%)	after a round	–	unknown	C	0%
1 Sep 2018	$63.1M	$28.1M – $102M	$71.8M (+14%)	after a round	–	unknown	C	0%
1 Oct 2018	$66.2M	$28.1M – $102M	$71.8M (+8%)	after a round	–	unknown	C	0%
1 Nov 2018	$69.6M	$28.1M – $102M	$71.8M (+3%)	after a round	–	unknown	C	0%
1 Dec 2018	$71.8M	$27.6M – $102M	$71.8M (0%)	after a round	–	unknown	C	0%
1 Jan 2019	$71.8M	$26.2M – $102M	$71.8M (0%)	after a round	–	unknown	C	0%
1 Feb 2019	$71.8M	$24.9M – $102M	$71.8M (0%)	after a round	–	unknown	C	0%
1 Mar 2019	$71.8M	$23.8M – $102M	$71.8M (0%)	after a round	–	unknown	C	0%
1 Apr 2019	$71.8M	$22.6M – $102M	$71.8M (0%)	after a round	–	unknown	C	0%
1 May 2019	$71.8M	$21.6M – $102M	$71.8M (0%)	after a round	–	unknown	C	0%
1 Jun 2019	$71.8M	$20.5M – $102M	$71.8M (0%)	after a round	–	unknown	C	0%
1 Jul 2019	$71.8M	$19.5M – $102M	$71.8M (0%)	after a round	–	unknown	C	0%
1 Aug 2019	$71.8M	$18.5M – $102M	$71.8M (0%)	after a round	–	unknown	C	0%
8 Aug 2019	$191M	$135M – $407M	$287M (+50%)	after a round	–	unknown	B	0%
1 Sep 2019	$197M	$135M – $407M	$287M (+46%)	after a round	–	unknown	B	0%
1 Oct 2019	$203M	$135M – $407M	$287M (+41%)	after a round	–	unknown	B	0%
1 Nov 2019	$210M	$135M – $407M	$287M (+36%)	after a round	–	unknown	B	0%
1 Dec 2019	$218M	$135M – $407M	$287M (+32%)	after a round	–	unknown	B	0%
1 Jan 2020	$225M	$135M – $407M	$287M (+27%)	after a round	–	unknown	B	0%
1 Feb 2020	$233M	$135M – $407M	$287M (+23%)	after a round	–	unknown	B	0%
1 Mar 2020	$241M	$135M – $407M	$287M (+19%)	after a round	–	unknown	B	0%
1 Apr 2020	$249M	$135M – $407M	$287M (+15%)	after a round	–	unknown	B	0%
1 May 2020	$257M	$135M – $407M	$287M (+11%)	after a round	–	unknown	B	0%
1 Jun 2020	$267M	$135M – $407M	$287M (+8%)	after a round	–	unknown	B	0%
1 Jul 2020	$276M	$135M – $407M	$287M (+4%)	after a round	–	unknown	B	0%
1 Aug 2020	$285M	$135M – $407M	$287M (+1%)	after a round	–	unknown	B	0%
1 Sep 2020	$287M	$130M – $407M	$287M (0%)	after a round	–	unknown	B	0%
1 Oct 2020	$287M	$124M – $407M	$287M (0%)	after a round	–	unknown	B	0%
1 Nov 2020	$287M	$119M – $407M	$287M (0%)	after a round	–	unknown	C	0%
1 Dec 2020	$287M	$114M – $407M	$287M (0%)	after a round	–	unknown	C	0%
11 Dec 2020	$376M	$327M – $562M	$489M (+30%)	after a round	–	unknown	A	0%
1 Jan 2021	$382M	$327M – $562M	$489M (+28%)	after a round	130	unknown	A	0%
1 Feb 2021	$390M	$327M – $562M	$489M (+25%)	after a round	130	unknown	A	0%
1 Mar 2021	$398M	$327M – $562M	$489M (+23%)	after a round	130	unknown	A	0%
1 Apr 2021	$407M	$327M – $562M	$489M (+20%)	after a round	130	flat	A	0%
1 May 2021	$416M	$327M – $562M	$489M (+17%)	after a round	130	flat	A	0%
1 Jun 2021	$426M	$327M – $562M	$489M (+15%)	after a round	130	flat	A	0%
1 Jul 2021	$435M	$327M – $562M	$489M (+12%)	after a round	130	flat	A	0%
1 Aug 2021	$445M	$327M – $562M	$489M (+10%)	after a round	130	flat	A	0%
1 Sep 2021	$455M	$327M – $562M	$489M (+7%)	after a round	130	flat	A	0%
1 Oct 2021	$464M	$327M – $562M	$489M (+5%)	after a round	130	flat	A	0%
1 Nov 2021	$475M	$327M – $562M	$489M (+3%)	after a round	130	flat	A	0%
1 Dec 2021	$485M	$327M – $562M	$489M (+1%)	after a round	130	flat	A	0%
1 Jan 2022	$489M	$316M – $562M	$489M (0%)	after a round	130	flat	A	0%
1 Feb 2022	$489M	$302M – $562M	$489M (0%)	after a round	130	flat	B	0%
1 Mar 2022	$489M	$290M – $562M	$489M (0%)	after a round	130	flat	B	0%
1 Apr 2022	$591M	$353M – $680M	$591M (0%)	after a round	310	growing	B	0%
1 May 2022	$591M	$361M – $680M	$591M (0%)	after a round	310	growing	B	0%
1 Jun 2022	$591M	$369M – $680M	$591M (0%)	after a round	310	growing	B	0%
1 Jul 2022	$591M	$377M – $680M	$591M (0%)	after a round	310	growing	A	0%
1 Aug 2022	$591M	$385M – $680M	$591M (0%)	after a round	310	growing	A	0%
1 Sep 2022	$591M	$394M – $680M	$591M (0%)	after a round	310	growing	A	0%
1 Oct 2022	$591M	$402M – $680M	$591M (0%)	after a round	310	growing	A	0%
1 Nov 2022	$591M	$238M – $680M	$591M (0%)	after a round	310	unknown	B	0%
1 Dec 2022	$591M	$231M – $680M	$591M (0%)	after a round	310	unknown	B	0%
1 Jan 2023	$342M	$202M – $587M	$238M (-30%)	after a round	260	down	B	88%
1 Feb 2023	$500M	$435M – $594M	$516M (+3%)	after a round	260	down	A	88%
2 Feb 2023	$500M	$435M – $594M	$516M (+3%)	after a round	260	down	A	88%
1 Mar 2023	$501M	$435M – $594M	$507M (+1%)	after a round	260	down	A	88%
1 Apr 2023	$503M	$435M – $594M	$497M (-1%)	after a round	260	down	A	88%
1 May 2023	$504M	$435M – $594M	$488M (-3%)	after a round	260	down	A	88%
1 Jun 2023	$505M	$435M – $594M	$478M (-5%)	after a round	260	down	A	88%
1 Jul 2023	$507M	$435M – $594M	$469M (-7%)	after a round	260	down	A	88%
1 Aug 2023	$508M	$435M – $594M	$460M (-9%)	after a round	260	down	A	88%
1 Sep 2023	$509M	$435M – $594M	$451M (-11%)	after a round	260	down	A	88%
1 Oct 2023	$502M	$435M – $578M	$364M (-28%)	after a round	190	shrinking	A	97%
1 Nov 2023	$502M	$435M – $578M	$349M (-31%)	after a round	190	shrinking	A	97%
1 Dec 2023	$502M	$435M – $578M	$335M (-33%)	after a round	190	shrinking	A	97%
1 Jan 2024	$503M	$435M – $578M	$322M (-36%)	after a round	190	shrinking	A	97%
1 Feb 2024	$503M	$435M – $578M	$309M (-39%)	after a round	190	shrinking	A	97%
1 Mar 2024	$483M	$412M – $574M	$288M (-40%)	after a round	180	shrinking	A	97%
1 Apr 2024	$463M	$389M – $570M	$278M (-40%)	after a round	180	shrinking	A	97%
1 May 2024	$445M	$368M – $566M	$268M (-40%)	after a round	180	shrinking	A	97%
1 Jun 2024	$426M	$347M – $562M	$258M (-39%)	after a round	180	shrinking	A	97%
1 Jul 2024	$409M	$328M – $558M	$249M (-39%)	after a round	180	shrinking	A	97%
1 Aug 2024	$443M	$314M – $607M	$326M (-27%)	after a round	200	flat	B	89%
1 Sep 2024	$445M	$298M – $618M	$336M (-25%)	after a round	200	flat	B	82%
1 Oct 2024	$447M	$283M – $627M	$346M (-23%)	after a round	200	flat	B	76%
1 Nov 2024	$462M	$302M – $652M	$367M (-21%)	after a round	230	up	B	70%
1 Dec 2024	$467M	$297M – $662M	$377M (-19%)	after a round	230	up	B	64%
1 Jan 2025	$471M	$292M – $670M	$387M (-18%)	after a round	230	up	B	59%
1 Feb 2025	$467M	$276M – $678M	$375M (-20%)	after a round	230	up	B	54%
1 Mar 2025	$473M	$272M – $685M	$384M (-19%)	after a round	230	up	B	50%
1 Apr 2025	$478M	$267M – $692M	$393M (-18%)	after a round	230	up	B	46%
1 May 2025	$484M	$263M – $698M	$402M (-17%)	after a round	230	up	B	42%
1 Jun 2025	$490M	$259M – $703M	$411M (-16%)	after a round	230	up	B	39%
1 Jul 2025	$483M	$177M – $690M	$406M (-16%)	after a round	205	flat	C	36%
1 Aug 2025	$482M	$166M – $684M	$404M (-16%)	after a round	192	flat	C	33%
1 Sep 2025	$487M	$157M – $688M	$409M (-16%)	after a round	192	flat	C	30%
1 Oct 2025	$468M	$150M – $689M	$381M (-19%)	after a round	192	flat	C	34%
1 Nov 2025	$277M	$138M – $656M	$174M (-37%)	after a round	166	down	C	96%
1 Dec 2025	$271M	$131M – $663M	$169M (-38%)	after a round	166	down	C	96%
1 Jan 2026	$189M	$121M – $445M	$109M (-43%)	after a round	143	shrinking	C	97%
1 Feb 2026	$171M	$115M – $361M	$99.5M (-42%)	after a round	143	shrinking	B	97%
1 Mar 2026	$165M	$110M – $355M	$95.7M (-42%)	after a round	143	shrinking	B	97%
1 Apr 2026	$158M	$104M – $347M	$91.7M (-42%)	after a round	143	shrinking	C	97%
1 May 2026	$146M	$95.4M – $327M	$84.6M (-42%)	after a round	120	shrinking	C	97%
1 Jun 2026	$140M	$90.6M – $321M	$81.0M (-42%)	after a round	120	shrinking	C	97%
1 Jul 2026	$134M	$86.3M – $314M	$77.7M (-42%)	after a round	120	shrinking	C	97%
1 Aug 2026	$129M	$82.0M – $308M	$74.4M (-42%)	after a round	120	shrinking	C	97%
1 Sep 2026	$123M	$77.9M – $301M	$71.2M (-42%)	after a round	120	shrinking	C	97%
1 Oct 2026	$117M	$73.5M – $292M	$67.7M (-42%)	after a round	115	shrinking	C	97%
24 Oct 2026	$114M	$70.8M – $288M	$65.5M (-42%)	after a round	115	shrinking	C	97%

Key facts about LeafLink

Founded: 2016
Headquarters: Denver, United States
Employees: about 115 -40% in a year
Total raised: $438M
Funding rounds: 6
Last round: Series D Feb 2023

LeafLink was founded in 2016 by Ryan G. Smith and Zach Silverman.

LeafLink funding history

LeafLink has 6 funding rounds on record, from Apr 2017 to Feb 2023, $438M in total. The latest disclosed valuation is $500M post-money (Series D, Feb 2023).

Series D 1 Feb 2023
Led by CPMG, L2V, Nosara Capital.
Sources: prnewswire.com, axios.com, mjbizdaily.com and 3 more
$100M
$500M post-money
Series C 10 Dec 2020
Led by Founders Fund; with Thrive Capital, Nosara Capital, Lerer Hippeau.
Sources: newcannabisventures.com, techcrunch.com
$40M
$376M post-money
Debt 22 Jul 2020no round page
Investors not disclosed.
Sources: mjbizdaily.com, finance.yahoo.com, app.hedgeye.com
$250M
Series B 7 Aug 2019
Led by Thrive Capital; with Nosara Capital, Lerer Hippeau, Wisdom, TIA Ventures, L2V.
Sources: newcannabisventures.com
$35M
Series A 20 Nov 2017
Led by Nosara Capital; with Lerer Hippeau, Casa Verde, Wisdom, Phyto Partners, TIA Ventures, Brand New Matter.
Sources: finsmes.com
$10M
Seed 3 Apr 2017
Led by Lerer Hippeau; with Casa Verde, Phyto Partners, Wisdom, Fairhaven Capital, Muse Capital.
Sources: prnewswire.com, alleywatch.com, newcannabisventures.com
$3.0M

LeafLink investors

13 investors have backed LeafLink; Lerer Hippeau, Nosara Capital and L2V and 3 more led at least one round.

What LeafLink does

LeafLink works in decorators & interior designers, with 10 recorded offerings and customers in cannabis.

LeafLink, Inc. is an American software company engaged in wholesale cannabis commerce. The company provides a technology platform that connects cannabis businesses, offering tools for a marketplace, payments, logistics, advertising, and data insights. LeafLink serves sellers and buyers across 30 markets in the United States, primarily in the cannabis industry.

Description from Veridion's company data.

Products and services

Cannabis Commerce Platform Development
Cannabis Marketplace Services
Cannabis Order Processing Solutions
Cannabis Logistics Management Services
Cannabis Advertising and Marketing Solutions
Cannabis Data Insights and Analytics
Cannabis Business Exposure Enhancement
Product Discovery and Order Placement Services
Wholesale Cannabis Retailer Services
Cannabis Industry Ecosystem Development

Markets

Cannabis

Business model

Business-to-Business
Software-as-a-Service
Marketplace

Industry codes (NAICS)

541410 Interior Design Services 100% match

Questions about LeafLink

What is LeafLink worth?

Valuation $114M (range $70.8M to $288M), as of 24 Oct 2026. The last disclosed valuation was $500M (Series D, Feb 2023).

Has LeafLink raised money?

LeafLink has 6 funding rounds on record, from Apr 2017 to Feb 2023, $438M in total. The latest disclosed valuation is $500M post-money (Series D, Feb 2023).

Who has invested in LeafLink?

Lerer Hippeau, Nosara Capital, L2V, Thrive Capital, CPMG and Founders Fund, and 7 more. Lead investors include Lerer Hippeau, Nosara Capital, L2V and Thrive Capital.

How many people work at LeafLink?

About 115, down 40% over the last year. Headcount rose from 130 in Jan 2021 to 310 in Apr 2022, then fell to 115 in Sep 2026.

What does LeafLink do?

LeafLink works in decorators & interior designers, with 10 recorded offerings and customers in cannabis. Its main offerings are cannabis commerce platform development, cannabis marketplace services and cannabis order processing solutions.

When was LeafLink founded, and where is it based?

LeafLink was founded in 2016 and is based in Denver, United States. It has about 115 employees, down 40% over the last year.

How we value companies Report an issue

LeafLink valuation, funding and investors

LeafLink valuation today

Key facts about LeafLink

LeafLink funding history

Series D 1 Feb 2023

Series C 10 Dec 2020

Debt 22 Jul 2020no round page

Series B 7 Aug 2019

Series A 20 Nov 2017

Seed 3 Apr 2017