Treez, a San Francisco, CA-based provider of an enterprise cloud commerce platform that powers retail and supply chain operations for the cannabis market, raised $51M in Series C funding, at a valuation in excess of $260 million.
The round was led by Long Ridge Equity Partners, Kayne Partners, and Synchrony Financial. As part of the funding round, Treez named Angad Singh, partner at Long Ridge, and Gowri Narayanan, a FinTech investor and global leader, to the Board of Directors. Nishita Cummings, managing partner and co-head of Kayne Partners, the growth private equity group of Kayne Anderson Capital Advisors, and Josh Aycock, principal at Synchrony, were named as observers on the Board of Directors.
The company intends to use the funds to accelerate its sales growth, product innovation, including developing new payments and advanced analytics solutions, enhance the functionality of its open cloud commerce platform for single-store and multi-store operators, and expand its geographic reach.
Led by CEO John Yang, Treez is an enterprise cloud commerce platform that streamlines retail and supply chain operations within the cannabis market. Solutions include point of sale, dispensary inventory management, omnichannel sales capabilities and multiple cashless payment options all on a mission-critical platform that ensures regulatory compliance across every supply chain transaction. The platform also connects essential brands with their retailers through a centralized brand catalog with real-time market insights. The extensible open API platform provides smooth integration into a variety of best-of-breed solutions, including CRM, marketplace, cashless payments and data analytics across the partner ecosystem, giving retailers everything they need to grow their business. Through its technology for retailers and brands, the company provides software solutions required to operate a modern dispensary.
Last year, the company expanded its workforce by 40 percent across 19 states and three countries.
FinSMEs
22/04/2022