Wurk Founder & CEO recently wrote about software solutions that are designed to automate key tasks like payroll, scheduling, and employee onboarding for the cannabis industry. A good workforce management solution can make running a business in the cannabis industry much less complicated. Read the entire post.
Direct Cannabis Network wrote an article about who Wurk is and why you need Wurk.
Who is Wurk?
Wurk’s platform offers its’ software as a service to help cannabis businesses do everything from background checks of new hires, to managing employees’ schedules, benefits and training, as well as making sure their employees get paid on time. Wurk provides tools to ensure compliance on both a state and federal level for companies looking to structure themselves for the future.
Why is Wurk needed?
Cannabis is still deemed a Schedule I controlled substance at the federal level, so large banks aren’t permitted to finance (most) cannabis companies. Another reason Wurk is needed for the cannabis industry, is for the fact most cannabis businesses have operated in what many in the community term a “gray area” or “black area” of the industry in which regulations and compliances are loosely followed. Wurk’s platform saves businesses the hassle of organizing themselves internally, by assisting businesses in figuring out internal processes that best fit the company’s structure.
Wurk Secures $1M in Seed Funding
Wurk, a Denver, Co.-based payroll and HR platform for the legal cannabis sector, secured $1m in seed funding.
Backers included CanopyBoulder, Poseidon Asset Management, Intuitive Private Equity and Richard Kimball, who are Arcview Investor Network members.
The company intends to use the funds to grow the team and accelerate customer acquisition with product-oriented market.
Led by Keegan Peterson, Founder & CEO, Wurk provides a payroll and HR platform designed for the regulated cannabis industry to automate the processes associated with hiring, managing and paying employees.
The platform includes tools to manage compliance with industry-specific regulations like Federal income tax code section 280E and state-specific requirements for employee registration and badging. It also provides an ecosystem of industry experts specializing in 280E tax law, accounting, human resources, cannabis corporate law, and banking.
The company went through CanopyBoulder’s Accelerator Program in Q1 of 2016.
The original post can be found here.
Cannabis Start-Up Wurk Closes $1 Million Seed Round
Workforce Management Technology Helps Highly Regulated Cannabis Industry Reduce HR Administrative Costs While Minimizing Compliance Risks
Denver, Colorado— Nov. 9, 2016—Wurk—a payroll and HR platform designed for the highly regulated cannabis industry—has raised $1 million in seed funding. This funding will be used to grow the team and accelerate customer acquisition with our product-oriented market. The round included CanopyBoulder, Poseidon Asset Management, Intuitive Private Equity and Richard (Rick) Kimball, who are Arcview Investor Network members.
The company went through CanopyBoulder’s Accelerator Program in Q1 of 2016. Wurk was then selected to be a featured presenter at ArcView Oakland Investor Forum by ArcView’s Investor Group Network. This led to a successful seed round with investors.
“We’ve experienced significant and sustained growth since we originally launched in August 2015,” said Keegan Peterson, Wurk Founder & CEO. ”Cannabis businesses are severely underserved by traditional payroll and HR firms. Because cannabis companies have to deal with so many unique regulatory issues, Wurk addresses several huge pain points.”
From day one, Wurk’s technology platform has been helping customers to tie together HR Management processes that include 280E reporting and audit trails, state-specific employee onboarding, industry-specific screening and payroll management. Backed by a unique ecosystem of experts and partners that specialize in 280E tax law, accounting, human resources, cannabis corporate law, and banking, Wurk’s Platform is reducing administrative costs and workload.
Arcview Market Research shows that the cannabis industry is the fastest growing industry in America. The U.S. market for legal cannabis is currently $7 billion. ArcView projects it will triple to $20 billion for medical and adult-use cannabis sales by 2020.
“The investors we have on board and the amount we’ve raised is a true testament that we’re working on something unique,” said Keegan. “The confidence we’ve received from the investor community enables us to get our product to market quicker as we continue to execute our business model.”
Wurk is a Payroll and HR platform specifically designed for the highly regulated cannabis industry. Our platform automates the processes associated with hiring, managing and paying employees, greatly reducing costs for employers, and making administrative tasks easier, less error-prone and quicker for employees. The Wurk platform includes tools to manage compliance with industry-specific regulations like Federal income tax code section 280E and state-specific requirements for employee registration and badging. Wurk provides an ecosystem of industry experts specializing in 280E tax law, accounting, human resources, cannabis corporate law, and banking. Learn more www.enjoywurk.com
North 6th Agency
TechCrunch Emerging Technologies Editor Lora Kolodny wrote about Wurk’s Seed Round closure:
A “pottech” company called Wurk has raised $1 million in seed funding to help cannabis businesses such as dispensaries or growers to comply with all the different regulations coming into play around the burgeoning, legal cannabis industry.
The seed deal closed before various ballots are voted on today in the U.S., that could make the sale and use of marijuana legal for adults in a broad number of new markets.
Wurk CEO Keegan Peterson said his company’s software-as-a-service helps cannabis businesses do everything from background checks of potential new hires, to managing employees’ schedules, benefits, training, and making sure they get paid on time. Read the entire post.
Recently Soar Above Success Podcast Interviewer Yury spent time interviewing Keegan Peterson. During their conversation they discussed Human Resources and how Wurk makes it easy for employers to execute and ensure compliance. This podcast is packed full of useful information you’ll want to hear. Listen to the podcast.
Sophisticated HR and Payroll Tools Streamline Compliance Processes for Cannabis Industry Leader
Denver, Colorado—Tuesday, June 28, 2016—Wurk—the only complete payroll and HR platform serving the cannabis industry, and Mindful—the industry leader for hand-crafted recreational and medicinal cannabis, today announced their partnership to provide Wurk’s entire platform to Mindful’s entire team. Wurk extends Mindful’s brand promise of ‘doing well by doing good’ through to their HR processes and employees.
“By streamlining our time clocks and payroll, Wurk has offered immediate efficiencies to our employee management teams, which has a combined 50 years experience,” said Mindful CEO Meg Sanders. “Multi-user access for administrators has also been a huge help. Through Wurk, we are able to offer our team members desktop and mobile access to their time clock, pay statements and W-2’s.”
Over the last couple of years, Mindful tried several different payroll and HR solutions. Due to the lack of functionality and features, those solutions left much to be desired. With expansion into multiple states scalability became a priority to meet their rapid growth.
Wurk provides Mindful the full suite of payroll and HR solutions designed specifically for the special compliance needs of today’s cannabis business owner. Wurk’s technology platform succinctly and easily ties together HR Management processes including:
- Streamlined recruitment and hiring
- Automated onboarding and ACA compliance
- Enabled labor costing (280e management)
- Scheduling and tracking employee time
- Error-proof payroll and taxes
- National scalability
“We are thrilled to work with a business solutions company that understands our need for bandwidth and efficiencies,” shared Sanders. “They are setting a high standard for the Cannabis industry.”
“Mindful is an industry leader with deep human resources experience,” said Wurk Founder & CEO Keegan Peterson. “We are humbled to be part of Mindful’s market expansion efforts and support the amazing brand they have built for the cannabis industry. Working with them is a testament to the power of our HR technology platform.”
Wurk– the only complete payroll and HR platform serving the cannabis industry—provides an entire human resource system integrated into one platform. With mobile self-service tools that ensure compliance, employers are empowered to provide efficient communications to all their employees. Experience the power of Wurk today! Visit us at www.enjoywurk.com.
Mindful–the industry leader for hand-crafted recreational and medicinal cannabis—ethically serves the global community. Our vision is to improve the quality of our human experience. We do well by doing good. With core values of integrity, accountability, respect and innovation—Mindful encourages everyone to BeMindful.Today.
Civilized Associate Editor Julia Wright recently interviewed Keegan Peterson, Wurk’s Founder and CEO for a feature story about the company. During the interview, Peterson states that “cannabis companies need to meet the standards of the 21st century workplace.”
Wright goes on to write: “While technology like this exists in almost every other industry, the banking hurdles that still exist for the cannabis industry have prevented many companies from finding fully integrated solutions to their HR woes.
“The companies that sell this tech are backed by national banks that won’t allow them to sell to this industry,” said Peterson. “A lot of major payroll companies shut down marijuana accounts, and tell them they can’t use their payroll systems.”
Würk has worked around these strictures by creating partnerships with banks that are open to the industry.
The bottom line, he says, is that legal cannabis represents a massive opportunity in a era of chronic, high unemployment – and a higher standard of organization is what will allow the industry to flourish.”