Green Bits, a San Jose, California-based retail management and automated compliance platform for cannabis dispensaries and retailers to run their businesses, completed a $17m Series A financing round.
The round was led by Tiger Global, with participation from Casa Verde Capital, and others.
The company intends to use the funds to accelerate sales, marketing, and product development while expanding product and service offerings in new geographic markets.
Led by Ben Curren, co-founder and chief executive officer, Green Bits provides a retail management and automated compliance platform for legal cannabis retailers to grow their businesses. The company processes more than $2.2 billion in sales annually through its point-of-sale platform and has more than 60 employees in San Jose, and Portland, Oregon. Green Bits serves approximately 1,000 cannabis retailers across 12 states – Alaska, Arizona, California, Colorado, Maine, Maryland, Massachusetts, Michigan, Montana, Nevada, Oregon, and Washington State.