Dutchie Is Now A Three Billion Dollar Company

Privately-owned cannabis tech firm Dutchie  has raised $350m in Series D financing which is now placing a $3.75 billion valuation on the Oregon-based company. The company said it plans to use the money to keep expanding operations and invest in R&D investments to launch major products to support cannabis dispensaries. That includes hiring more top talent for the firm.

Dutchie is a behind-the-scenes company that charges dispensaries a monthly fee to create and run their websites and manage orders. With the pandemic, many dispensaries were pushed to create online ordering for pickup in-store. Plus, many customers don’t like waiting in lines and the convenience of online ordering and express pickup desks in dispensaries has added to the product’s popularity. The company said in a statement,

We have had a pivotal 2021 and will continue to expand our product suite and innovate solutions for cannabis retailers. As we strive to create safe and easy access to cannabis, we hope to open more hearts and minds to the good it can do.

Founded in 2017, Dutchie now has over 500 employees across 40 different U.S. states and in Canada. In the last fundraising round CEO Ross Lipson said,

“Dutchie’s mission is to provide safe and easy access to cannabis while helping power the positive societal change that cannabis is bringing to the world. We believe we have a responsibility to help contribute to the next evolution of the industry, help all sides of the market grow, and create opportunities and outcomes that benefit all of our partners and consumers.”

Dutchie’s Series D comes seven months after its last funding round — a $200 million Series C — one of the largest private funding rounds in the cannabis industry. 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.

 

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2 comments

  • Arnoldus Manlius II

    October 15, 2021 at 5:22 pm

    It is quite amazing how the same bubble blabla keeps reappearing in wannahave media channels. Obviously the dot.com bubble went over the rememberabillity-horizon. Was it your money burn-rate, or rather someone elses money back then, now it is the amount of money jou ‘collect’ , as its called here in The Netherlands. ‘zo en zoveel mln ophalen” Just as 20 years ago, it is not how much you sold at the end of the day that writes your succesfulness and has your businesses worth as a function of it. No, it is how much you owe! So lets be real, come down from that high. According to my Dutch grandmother, you are worth exactly nill money if your crown asset is plain debt. If you say, yes well but this company is so promising, it even hasn’t to produce anything and still it will be bought in the blind, for easily six times its current share value. Well, then your product is not the green high, you are producing baked air. It stands for as long as everybody keeps hyping it. It’s tulip mania once again. But it’s fine by me if you’re feeling good while your money goes up in smoke. Perhaps there could be added a little gomstrip to the dollar banknotes. The kind that becomes a bit sticky if it gets moisturized. You only have to add some tobacco and some marijuana, roll it up en light it. And there you go, in the green market as well as in the dot com market, or the bundled mortgage marked, the sky is the limit… But make sure you took the money and run in time, because history shows very real, each and each time again, even more certain than the mind blowing amounts of money these certainties sure will bring you, it is inevitable that the sky will be coming crushing down. For example as soon as the first court case is one by some dead medicinal weed smoker because smoking cannabis in paper got proven to bare the risk of getting cancer…

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  • Nildson

    November 7, 2021 at 10:25 am

    Arnoldus, you’re bringing up some important things about the .com bubble and I was there living a dream and so everything blows up. Well at this point we’re seen some patterns and I agree with you, however, there are others aspects about the plant based technology that Marijuana can possibly bring and that is the bet of the market despite of the .com opportunities.

    Reply

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