Dutchie, the Bend, Oregon-based cannabis technology company, announced on Tuesday it raised $200 million during Series C funding bringing the company’s total value to $1.7 billion. The firm also announced it had acquired Greenbits and Leaflogix – enterprise resource planning and point-of-sale software companies – for an undisclosed sum.
The company also named Tim Barash, former CFO and chief business officer at Toast, as its new executive chairman.
“Dutchie is powering a new generation of entrepreneurs driving one of the most disruptive consumer trends of the last century. This is a once in a lifetime opportunity to join a team focused on accelerating an industry that has a wide range of positive societal impacts, from better health and wellness outcomes to reversing a stigma that hampers criminal justice reform to supporting communities by enhancing state and local tax revenues.” – Barash in a statement
The funding round was led by Tiger Global, along with new investors Dragoneer and DFJ Growth. Other, existing, investors participating in the funding round include Casa Verde Capital, Thrive Capital, Gron Ventures, and former Starbucks Chairman and CEO Howard Schultz.
In July, Dutchie raised $35 million and was valued at $205 million, according to Pitchbook. The company was founded in 2017 by brothers Ross and Zach Lipson. Dutchie works with 2,116 dispensaries across 36 markets in the United States and Canada to facilitate online cannabis ordering including pickup and delivery.
Exclusive offer from our sponsor:
Get daily news insights in your inbox. Subscribe