+ 7.36
+ 2.33%
+ 2.46
+ 0.8%
+ 5.16
+ 1.36%
+ 0.15
+ 0.1%
+ 2.84
+ 1.65%

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 Secures $13M In Funding In Series B Round

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

Dispensary Update: Trulieve, Jushi And Cloud Cannabis Each Have New Stores

Trulieve Opens Second Store In Gainesville Cannabis company Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) has cut the ribbon on its second Gainesville, Florida-based dispensary. read more

The Blinc Group Closes $1.5M Pre-Series A Bridge Round

Vaporizer technologies company The Blinc Group, Inc. announced Thursday the closing of a pre-Series A bridge financing of $1.5 million. The round was led by Equitas Partners Fund, WGD Capital, LP, and 7thirty Capital. CEO and co-founder Arnaud Dumas de Rauly says proceeds from the raise will be used to: read more

Namaste Sells Units, Collects Gross Proceeds Of CA$23M

E-commerce cannabis platform Namaste Technologies Inc. (TSXV: N) (OTCQB: NXTTF) closed its “bought deal” public offering, collecting total gross proceeds of CA$23 million. read more

Vext Science Upsizes Bought Deal Public Offering To Raise $18M

Vertically integrated CBD company Vext Science Inc. (CSE: VEXT) (OTCQX: VEXTF) is poised to raise $18 million through a bought deal offering of its units. read more