Today, we are thrilled to announce that we have raised $350 million in a Series D financing round that values the company at $3.75 billion. The investment was 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.
This investment was closed on the heels of an unprecedented year. We helped over 5,000 dispensary partners grow their businesses, welcomed LeafLogix and Greenbits into the Dutchie family, and launched a new look and feel to better represent who we are and how we see ourselves evolving together as a brand, as an industry, and as a community. The growth we have experienced is a testament to the cannabis movement as a whole.
Our mission has always been to propel the industry forward based on the core belief that cannabis is good for humanity. The perspectives are already shifting. A record-high percentage of Americans now support legalization! Cannabis culture—and Dutchie—have come a long way, but there’s still so much work to do to reverse the stigma.
This new funding will go toward continued team building, expansion into new markets, and R&D investments that will allow us to power cannabis commerce through the products and support that we provide our dispensary partners.
We have had a pivotal 2021 and will continue to expand our product suite and innovate solutions for cannabis retailers. As we strive to create safe and easy access to cannabis, we hope to open more hearts and minds to the good it can do.
Thank you all for your support through this journey, it has encouraged us to work harder and faster. If you’re as excited by this mission as we are, join us!