Dutchie, a Bend, Ore.-based technology platform powering cannabis commerce, raised $350m in Series D financing, which valued it at $3.75 billion.
The round was led by D1 Capital Partners, with participation from previous investors including Tiger Global, Dragoneer, DFJ Growth, Thrive Capital, Gron Ventures, and Casa Verde Capital, and new investors, including Willoughby Capital, Glynn Capital, and Park West Asset Management.
The company intends to use the funds to continue to expand operations and its business reach nationally and internationally and invest in R&D investments to launch major products to support cannabis dispensaries while meeting evolving consumer demand and expectations.
Led by Ross Lipson, CEO and co-founder, Dutchie provides a cannabis technology platform that powers cannabis commerce, streamlining dispensary operations via solutions for point of sale, ecommerce, seamless payments, and more. It currently powers over 5,000 dispensaries throughout the U.S. and Canada and processes $14 billion in sales annually. Dutchie has over 500 employees across 40 different U.S. states and in Canada.