Opportunity and challenge
Micah Tapman, managing director of CanopyBoulder, a cannabis business incubator and venture fund that invested some startup capital in Wurk, said the vendor has a “terrific” market opportunity and also some significant challenges.
While CanopyBoulder only gave Wurk $30,000, Wurk has raised about $3 million total in venture capital funding, according to the company. CanopyBoulder still serves as an adviser, and Wurk executives went through a four-month business accelerator program in 2014.
“Wurk is an example of a particular type of market opportunity that is unique to cannabis,” Tapman said. “That is an opportunity to do a basic service that, in other industries, is very well-established, highly competitive and very difficult to break into.”
“In the cannabis industry, for whatever reason, people are not providing that service,” Tapman added. “So, instead of competing against ADP and Aon Hewitt,