+ 0.74
+ 0.42%

Treez Secures $13M In Funding In Series B Round

September 18, 2020 11:53 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More

Treez, a seed-to-sale and cannabis retail software platform, confirmed Thursday it has secured $13 million in financing through a Series B Investment Round led by Intrinsic Capital Partners.

The Oakland, California-based company said it would utilize the proceeds to boost entering into legal state retailers for business-to-consumer (B2C) and business-to-business (B2B) trading.

Treez also intends to use the funding for extending its scope via APIs into best-of-breed tech stacks.

John Yang, the company's CEO, said they are "pleased to receive this endorsement from a respected investor with a deep understanding of emerging cannabis markets."

Simultaneously, the company saw a 71% retail gross merchandise volume to $1.7 billion to date, Yang explained further.

He said they are "particularly proud of our expanding market leadership in California, where we've captured 37 percent market share," as they are expanding its footprint into additional states.

Intrinsic's Managing Partner, Jerry Stahlecker, states that the investment occurs in a period when the "value of real-time data within cannabis enterprises is rapidly rising."

Meantime, earlier this year, Treez is integrated with the cannabis CRM and marketing platform Sprout to manage customer relationships and develop marketing campaigns.

Courtesy image


Related Articles

Green Thumb Industries Sells $79M Stake To Undisclosed Investor

Green Thumb Industries (CSE: GTI) (OTCQX: GTBIF) confirmed Friday that an undisclosed institutional investor bought 5.5 million subordinated voting shares in the company for $79 million. read more

Gwyneth Paltrow, Ruby Rose And Other Celebs Back Cannabis-Infused Beverage Brand

Cannabis beverage brand Cann scored a lot of celebrity support. read more

Pot Delivery Service Emjay Merges With Booze Platform Saucey Under One 'Vice' Umbrella

Pacific Consolidated Holdings Group Inc. (PCH) confirmed Wednesday the acquisition of two delivery services — Saucey and Emjay. read more

Turning Point Brands Backs Cannabinoid Company Dosist With $15M

Turning Point Brands Inc. (NYSE: TPB) agreed to invest $15 million in Dosist, a cannabinoid company. The two companies opted to co-create a new CBD brand featuring thc-free products.  read more

Neptune Partners With Ontario Cannabis Store, Brings Products To 515 Canada Stores

Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT) partnered with Ontario Cannabis Store to sell and distribute Mood Ring, a new proprietary recreational product line. Under the supply deal, the Mood Ring product line would be commercialized in 211 Ontario-based private retailers. read more