Buzzkill Labs Closes Oversubscribed Series A Financing

Buzzkill Labs, developer of the rapid saliva test for psychoactive THC, announced the close of an oversubscribed series A funding round co-led by Poseidon Garden Ventures and existing investors. Buzzkill will use the proceeds from the financing to commercialize its technology, which fills employers' critical need to maintain safe workplaces while respecting the dignity of employees who legally use cannabis outside of work.

According to the company its proprietary technology performs on-site detection of psychoactive THC in saliva (oral fluid) samples in less than 15 minutes. The platform, initially deployed in workplace safety applications, enables employers with safety-sensitive roles to identify the use of cannabis during or immediately before work hours.

This month the U.S. Department of Transportation published an update to their drug testing policy to include oral fluid testing. This action harmonizes the DOT policy with the U.S. Department of Health and Human Services policy, guides DOT-regulated testing, and has a strong influence on non-regulated workplace drug testing programs.

George Farquar, Ph.D., Buzzkill's CTO stated, "Our platform separates and detects the psychoactive THC parent compound from more than 100 cannabinoids, with analysis that ensures the results will stand up under scrutiny. DOT authorization is significant validation and is likely to accelerate adoption of oral fluid as the preferred sample type even more than we have experienced to date."

Buzzkill appointed Patrick Rea, managing director of Poseidon, to its board of directors.

"We are proud to partner with Buzzkill Labs as they address an urgent market need to ensure safe workplaces that are fair for employees," stated Rea. "Employers in states with legal cannabis are desperate for a solution to help them comply with legislation that prevents discrimination against employees who enjoy cannabis products when they are not at work. We are excited that Buzzkill is introducing the first product that truly helps solve this growing problem."

Photo by Mackenzie Marco on Unsplash