With D1 Capital Partners leading the round, Dutchie furthers its mission to create safe and easy access to cannabis and provide solutions that streamline dispensary operations
BEND, Ore., Oct. 14, 2021 /PRNewswire/ — Dutchie — the technology platform powering cannabis commerce — today announced the completion of a $350 million financing round — the company’s Series D. Dutchie is now valued at $3.75 billion, more than doubling the company’s valuation in less than seven months. Dutchie’s latest funding round is 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.
“We believe cannabis is good for humanity, and we’re committed to doing our part to propel this remarkable industry forward based on that core belief,” said Ross Lipson, CEO and co-founder at Dutchie. “We are powering cannabis commerce through the products and support that we provide our dispensary partners. We’re working arm-in-arm with our customers to create safe and easy access to cannabis while opening people’s hearts and minds to the good it can do.”
The company facilitates more than $14 billion in cannabis sales annually and partners with over 5,000 dispensaries across North America. 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 fastest-growing cannabis technology platform, Dutchie’s team has more than doubled in the past six months to over 500 employees across 40 different U.S. states and in Canada.
“We seek to back companies with big visions that create significant value for their stakeholders,” said Emily Corning at D1 Capital Partners. “Dutchie is the tech backbone helping propel one of the fastest-growing industries in the world, and we’re all in to advance their mission.”
The new funding will go toward continuing to add and attract top talent, assist with expansion into new markets, including outside of North America, and to double-down on its R&D investments to launch major products to support cannabis dispensaries while meeting evolving consumer demand and expectations. To learn more, visit: https://dutchie.com.