Series A Archives - Green Market Report

Jack SmithSeptember 11, 2018


Treez, a point of sale software (POS) provider, which could be described as the Oracle of the marijuana industry, announced it has raised $11.5 million in a new Series A funding round.

The new funding, which brings the total funding the company has raised to $15 million, was led by Intrinsic Capital Partners, which provided $10 million of the funding by itself. Also providing investments are AFI Capital Partners and Welcan Capital.

Treez CEO John Yang said that the capital raise allows the company to grow and expand in the burgeoning cannabis market while giving dispensaries, commercial and retail sellers their tech solutions all under one roof. “We’re thrilled that our funding has put us in a position where we can continue to expand our team, invest in beneficial partnerships, and bring more creative retail management solutions to this rapidly growing industry,” said Yang in a statement.

Yang continued: “When we created Treez, we understood the impact our technology could have within the cannabis industry—ushering in a new era of automated compliance, data-driven insights, and a more modern, integrated cannabis ecosystem.”

In addition, the firm will use the new funds to “expand its footprint, pursue market expansion opportunities and invest in partnerships that will help seamlessly connect each link in the supply chain.”

The POS market is expected to surge over the next few years, as consumers continue to move away from cash and more small businesses get accustomed to new systems and upgrade existing ones. According to Grand View Research, the mobile POS market is expected to grow 17 percent annually until 2024, due largely to “small specialty and retail businesses find tablets a powerful substitute for the traditional point-of-sale systems,” Grand View wrote in its report.

Treez, which launched just two years ago, describes itself as an “enterprise software platform solution company for retailers in the cannabis space,” according to its CrunchBase page.

Based in Fremont, Calif., it was founded by Yang, Shareef El-Sissi and Wayne Lee. It had raised $1.2 million prior to the Series A funding.

Jerry Stahlecker of Intrinsic said that the Pennsylvania-based equity firm looks at businesses that are transforming the cannabis industry and noted that Treez fits the bill.

“We’re excited to invest in a team that has delivered the industry’s leading enterprise retail management technology and look forward to supporting Treez in growing its market share and developing broader industry solutions,” Stahlecker said.

StaffFebruary 8, 2018


Canadian medical marijuana company Tilray announced the completion of its Series A funding round totaling C$60 million. The round consisted of a group of leading global institutional investors and the terms were not disclosed. Cowen served as sole placement agent. 

Tilray will use the new funding to increase its existing production capacity in North America, to continue to build its European Union campus in Portugal, and to expand the availability of its products to more patients and pharmacies around the globe.

“This funding round represents another strategic milestone for Tilray as we pioneer the future of medical cannabis globally,” said Brendan Kennedy, Chief Executive Officer, Tilray. “With support from some of the world’s leading institutional investors, we will expand our production capacity in North America and Europe, and scale distribution of our products to more patients and more pharmacies in more countries.”

Tilray is federally licensed in Canada and Europe currently sells pharmaceutical-grade, GMP-certified medical cannabis products to tens of thousands of patients in eight countries. It was the first licensed producer of medical cannabis in the world to have its facility Good Manufacturing Practices certified in accordance with European Medicine Agency (EMA) standards. Tilray supplies hospitals, pharmacies and pharmaceutical distributors on four continents, and has signed supply agreements with NOWEDA, one of Germany’s largest pharmaceutical wholesalers, and Shoppers Drug Mart, Canada’s largest pharmacy chain.

Since its founding in 2014, Tilray has been wholly-owned and solely funded by Privateer Holdings, the world’s leading private equity firm investing exclusively in legal cannabis. Tilray’s Series A funding round marks the first time that outside investors have invested directly into a Privateer Holdings portfolio company. With its Series A funding and incorporation, Tilray is positioned to operate and finance its growth independent of Privateer Holdings.

Privateer also has in its portfolio, Marley Natural cannabis, Goodship edibles and the media company Leafly.


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