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.
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