糖心视频

, which outfits dispensaries with the technology and tools needed to provide safe and easy access to cannabis, raised its largest funding to date, $200 million in a Series C, to value the company at $1.7 billion.

Subscribe to the Crunchbase Daily

led the round and was joined by new investors and , as well as existing investors (co-founded by , whose investments we profiled here), , and . The new funding gives Bend, Oregon-based Dutchie $253 million in total funding since being founded in 2017, according to Crunchbase data. It previously raised a $35 million Series B round last August.

鈥淭his round is one of the largest in cannabis and a landmark round that brings top-tier people to the space,鈥� , Dutchie co-founder and CEO, told Crunchbase News. 鈥淭he industry is bringing change, and it鈥檚 a beautiful opportunity to be a part of it.鈥�

Market growth

Since last November, passed legalization measures for cannabis and a of Americans now support legalization as they鈥檝e learned about the societal benefits, including improving health and wellness, the impact on social justice, and powering local communities through a safe revenue stream, Lipson said.

Dutchie connects consumers to local cannabis retailers and is capitalizing on trends that show the legal marijuana industry is one of the and is slated to reach in 2025. At the same time, expects one quarter of total U.S. . However, dispensaries are still fragmented and nascent even though the industry is poised to grow rapidly at a 35 percent compound annual growth rate, Lipson said.

The company focuses on being an education and discovery tool so cannabis buyers can learn about cannabis, what works for them and what is available at their nearest dispensary, so they can make an informed buying decision, he added.

鈥淲e raised our Series B during the pandemic and saw accelerated growth, driven by the industry, as a whole, being deemed an essential business during that time and by consumers adopting the product,鈥� Lipson said.

The new capital will be deployed in new hires, expanding into new markets and product development.

Company changes

Meanwhile, Dutchie is that announced Tiger Global-involved capital raises during March, according to Crunchbase data.

鈥淲e work with companies that have the potential to reshape major parts of the global economy,鈥� said , partner at Tiger Global, in a written statement. 鈥淥ur investment will help Dutchie extend its platform and deepen relationships with merchants, consumers, and brands to drive better outcomes for all in this ecosystem. We look forward to supporting this world-class team as they hit a new phase of growth.鈥�

In addition to the new round, Dutchie announced the acquisitions of cannabis retail platform , which has raised $41 million since 2014, according to Crunchbase data, and cannabis software provider . Both companies bring point-of-sale expertise and software into Dutchie so it can continue developing an all-in-one technology platform.

The company also brought in , former CFO and chief business officer at , who will serve as the company鈥檚 new executive chairman.

鈥淚鈥檝e admired Toast and am excited to welcome him as a partner,鈥� Lipson said. 鈥淗e is bringing his expertise and will move the industry forward.鈥�

Feature photo of Dutchie founders Ross Lipson and Zach Lipson and inset photo courtesy of Dutchie.
Blogroll ilustration: