Dutchie, a Bend, Oregon-based creator of technology to help facilitate legal cannabis orders, raised $350 million in a Series D funding round.
The influx of new cash comes just seven months after the startup raised $200 million. Dutchie’s valuation has doubled to $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 new fund will be used to add employees, expand into new markets, including outside of North America, and create new products.
Company: Courier Plus Inc.
Raised: $350.0M
Round: Series D
Funding Month: October 2021
Lead Investors: D1 Capital Partners
Additional Investors: Tiger Global, Dragoneer, DFJ Growth, Thrive Capital, Gron Ventures, Casa Verde Capital, Willoughby Capital, Glynn Capital, and Park West Asset Management
Company Website: https://dutchie.com/
Software Category: Cannabis e-commerce platform
About the Company: Dutchie is an all-in-one technology platform that powers dispensary operations, provides consumers with safe and easy access, and supports the wave of positive societal change that cannabis is bringing to the world. The company’s technology includes e-commerce, point of sale, and seamless payment solutions and is used to power annual sales of more than $14 billion at 5,000 cannabis dispensaries across North America. Shoppers can search online for a nearby dispensary, browse products, place an order and arrange to pick it up or have it delivered. Dutchie is riding the wave of support for marijuana legalization in the U.S., including the passage of legislation across multiple states. Legal cannabis sales are expected to hit $24 billion in 2021. The company was founded in 2017 and is headquartered in Bend, Oregon.
Source: https://www.geekwire.com/2021/cannabis-tech-startup-dutchie-raises-350m-double-valuation-3-75b-less-year/