Total amount raised
$603 Millions
Latest funding date
10/01/2021
Location
Dutchie has successfully raised funds through multiple rounds, with the latest being a Series D round. The company has garnered the support of 16 investors, including notable names like DFJ Growth and Growcore Investments.
Keep reading to explore the intricacies of Dutchie's fundraising journey and the investors backing this innovative platform.
What Is Dutchie?
Founded in July 2017, Dutchie is an all-in-one technology platform that powers dispensary operations. The company is based in Bend, Oregon, and was founded by Ross Lipson, Sam Ellis, Samuel Ellis, and Zach Lipson. Dutchie employs between 251 and 500 people.
They provide a range of technology solutions for dispensaries, including point of sale systems, eCommerce platforms, cashless payment services, insurance-related services, hardware, and APIs. Dutchie aims to support the wave of positive societal change that cannabis is bringing to the world.
In addition to their technology solutions, Dutchie also facilitates online cannabis orders from local dispensaries, offering options for in-store or curbside pickup, or delivery to your door. Their platform ensures consumers have safe and easy access to cannabis products.
How Much Funding Has Dutchie Raised?
- Seed Round
- Amount Raised: $3M
- Date: September 2018
- Lead Investors: Casa Verde Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop the initial technology platform.
- Series A
- Amount Raised: $15M
- Date: September 2019
- Lead Investors: Gron Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform to support more dispensaries.
- Series B
- Amount Raised: $35M
- Date: August 2020
- Lead Investors: Thrive Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and increase market penetration.
- Series C
- Amount Raised: $200M
- Date: March 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: $1.7B
- Motivation Behind the Round: To support the company's growth and increase its valuation.
- Series D
- Amount Raised: $350M
- Date: October 2021
- Lead Investors: D1 Capital Partners
- Valuation at Round: $3.75B
- Motivation Behind the Round: To expand Dutchie's international footprint and support its growth in the cannabis e-commerce market.
Total Amount Raised: $603M
Current Valuation: $3.75B
Key Investors
- D1 Capital Partners
- Details: D1 Capital Partners is a global investment firm that deploys capital in both public and private markets. They led Dutchie's Series D funding round.
- Investment Focus Areas: Public and private markets across various sectors.
- Notable Investments: Stripe, Instacart, SpaceX.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on private and public companies in the global Internet, software, consumer, and financial technology industries. They previously led Dutchie's Series C funding round.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Thrive Capital
- Details: Thrive Capital is a venture capital firm that invests in internet and software investments. They participated in multiple funding rounds for Dutchie.
- Investment Focus Areas: Internet, software.
- Notable Investments: Instagram, Slack, Robinhood.
- Gron Ventures
- Details: Gron Ventures is a venture capital firm that focuses on the cannabis industry. They led Dutchie's Series A funding round.
- Investment Focus Areas: Cannabis industry.
- Notable Investments: Specific companies not mentioned.
- Casa Verde Capital
- Details: Casa Verde Capital is a venture capital firm co-founded by Snoop Dogg, focusing on the cannabis industry. They led Dutchie's Seed Round.
- Investment Focus Areas: Cannabis industry.
- Notable Investments: Eaze, Green Bits, LeafLink.
What's Next for Dutchie?
With the global legal marijuana market projected to reach $70.6 billion by 2028, Dutchie is poised to capitalize on this growth. The company plans to expand its international footprint, enhance its product offerings, and attract top talent to support its rapid growth. These opportunities are bolstered by Dutchie's impressive track record, including processing over $14 billion in cannabis sales annually and partnering with more than 5,000 dispensaries.
Future fundraising opportunities seem promising, given the company's recent successful rounds and the increasing investor enthusiasm in the cannabis industry. However, Dutchie will need to navigate regulatory challenges and manage competition from other cannabis tech companies. As the industry evolves, Dutchie's ability to scale operations and innovate will be crucial to maintaining its market position.
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