Lipson spoke with New Cannabis Ventures about the company’s growth over the last six months, its Series D and what he sees for the company’s future.
Over the last six months, the team has almost doubled to approximately 500 people across North America.
With Dutchie coming from ecommerce and Leaf Logix and Greenbits coming from the point-of-sale space, the companies have had a lot to learn from one another, according to Lipson.
For now, North America is the company’s core market, but Lipson does see the potential for international expansion in the future.
The Dutchie platform focuses on ecommerce, point of sale and payments, and the company has plans for significant investment in R&D.
The company just debuted new products at MJBizCon, including new hardware and a full redesign of the back office for point-of-sale and the cash register app.
The company sees value in integrations in the ERP space, as well as in cultivation, manufacturing, distribution and marketing technology.
Dutchie raised $350 million in its Series D, and this significant financing round now brings the company’s value to $3.75 billion.
The company has an investor base with a diverse perspective, according to Lipson.
When asked why Dutchie has been so successful in attracting investors, Lipson credited the company’s mission-driven approach, as well as its lofty goals.
It signals that the cannabis industry is here to stay and that there is a lot of value creation occurring in the space.
Dutchie is working to obtain public readiness, not necessarily to go public but because it provides a healthy perspective, according to Lipson.
The company has more than 5,000 dispensaries in its ecosystem, and it has more than $14 billion in annualized GMV.