Dutchie valuation, funding and investors

Dutchie works in cannabis retail platform development, based in Bend, United States. Founded in 2017, it has about 468 employees.

Tech Companies Bend Series D

VALUATION · TODAY

$1.53B −11% after Series D

Range $231M – $4.89B · Grade D

TODAY

+12 MO

$2.00B

$4.00B

$6.00B

$8.00B

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

Series A $15.0M

Series B $35.0M

Series C $200M

Series D $350M

ValuationBefore first round12-month outlook: where it points, how wide it fansHover the past: the outlook shows what was predicted then

HEADCOUNT · TODAY468 employees

+6%6m growth

+8%1y growth

−8%2y growth

250

500

750

Data from Jan 2021

TODAY

Predicted in 1 yr $1.35B −11% vs today

Predicted next raise $518M if a round comes

Winding-down probability 40%

Last round: Series D · $350M · Oct 2021
Valuation at last round: $3.75B
Headcount: 468 · flat
Grade: D
Founded: 2017

How VCMC values companies →

Dutchie valuation today

VCMC values Dutchie at $1.5B today, with a range of $231M to $4.9B and a grade of D. The valuation starts from its last funding round, a Series D round in Oct 2021.

Valuation by date (123 rows)

Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.

Dutchie: valuation by date, as the model would have shown it on each date
Date	Valuation	Range	Predicted in 1 yr	Phase	Headcount	Trend	Grade	Winding-down probability
1 Jan 2017	$6.49M	$2.36M – $17.8M	$8.90M (+37%)	before first round	–	unknown	D	0%
1 Feb 2017	$6.67M	$2.43M – $18.3M	$9.14M (+37%)	before first round	–	unknown	D	0%
1 Mar 2017	$6.83M	$2.49M – $18.8M	$9.36M (+37%)	before first round	–	unknown	D	0%
1 Apr 2017	$7.01M	$2.55M – $19.3M	$9.62M (+37%)	before first round	–	unknown	D	0%
1 May 2017	$7.20M	$2.62M – $19.8M	$9.87M (+37%)	before first round	–	unknown	D	0%
1 Jun 2017	$7.39M	$2.69M – $20.3M	$10.1M (+37%)	before first round	–	unknown	D	0%
1 Jul 2017	$7.59M	$2.76M – $20.8M	$10.4M (+37%)	before first round	–	unknown	D	0%
1 Aug 2017	$7.79M	$2.84M – $21.4M	$10.7M (+37%)	before first round	–	unknown	D	0%
1 Sep 2017	$8.01M	$2.91M – $22.0M	$11.0M (+37%)	before first round	–	unknown	D	0%
1 Oct 2017	$8.22M	$2.99M – $22.6M	$11.3M (+37%)	before first round	–	unknown	D	0%
1 Nov 2017	$8.44M	$3.07M – $23.2M	$11.6M (+37%)	before first round	–	unknown	D	0%
1 Dec 2017	$8.66M	$3.15M – $23.8M	$11.9M (+37%)	before first round	–	unknown	D	0%
1 Jan 2018	$8.90M	$3.24M – $24.4M	$12.2M (+37%)	before first round	–	unknown	D	0%
1 Feb 2018	$9.14M	$3.33M – $25.1M	$12.5M (+37%)	before first round	–	unknown	D	0%
1 Mar 2018	$9.36M	$3.41M – $25.7M	$12.8M (+37%)	before first round	–	unknown	D	0%
1 Apr 2018	$9.62M	$3.50M – $26.4M	$13.2M (+37%)	before first round	–	unknown	D	0%
1 May 2018	$9.87M	$3.59M – $27.1M	$13.5M (+37%)	before first round	–	unknown	D	0%
1 Jun 2018	$10.1M	$3.69M – $27.8M	$13.9M (+37%)	before first round	–	unknown	D	0%
1 Jul 2018	$10.4M	$3.79M – $28.6M	$14.3M (+37%)	before first round	–	unknown	D	0%
1 Aug 2018	$10.7M	$3.89M – $29.4M	$14.4M (+35%)	before first round	–	unknown	D	0%
1 Sep 2018	$11.0M	$4.00M – $30.2M	$14.5M (+32%)	before first round	–	unknown	D	0%
1 Oct 2018	$11.3M	$4.10M – $30.9M	$14.7M (+30%)	before first round	–	unknown	D	0%
1 Nov 2018	$11.6M	$4.21M – $31.8M	$14.8M (+28%)	before first round	–	unknown	D	0%
1 Dec 2018	$11.9M	$4.32M – $32.6M	$14.9M (+26%)	before first round	–	unknown	D	0%
1 Jan 2019	$12.2M	$4.44M – $33.5M	$15.1M (+24%)	before first round	–	unknown	D	0%
1 Feb 2019	$12.5M	$4.56M – $34.4M	$15.2M (+21%)	before first round	–	unknown	D	0%
1 Mar 2019	$12.8M	$4.67M – $35.3M	$15.3M (+19%)	before first round	–	unknown	D	0%
1 Apr 2019	$13.2M	$4.80M – $36.2M	$15.5M (+17%)	before first round	–	unknown	D	0%
1 May 2019	$13.5M	$4.93M – $37.2M	$15.6M (+15%)	before first round	–	unknown	D	0%
1 Jun 2019	$13.9M	$5.06M – $38.2M	$15.8M (+13%)	before first round	–	unknown	D	0%
1 Jul 2019	$14.3M	$5.19M – $39.2M	$15.9M (+11%)	before first round	–	unknown	D	0%
1 Aug 2019	$14.4M	$5.25M – $39.6M	$16.0M (+11%)	before first round	–	unknown	D	0%
1 Sep 2019	$14.5M	$5.29M – $39.9M	$16.2M (+11%)	before first round	–	unknown	D	0%
11 Sep 2019	$83.5M	$54.8M – $228M	$150M (+80%)	after a round	–	unknown	C	0%
1 Oct 2019	$86.2M	$54.8M – $228M	$150M (+74%)	after a round	–	unknown	C	0%
1 Nov 2019	$90.6M	$54.8M – $228M	$150M (+66%)	after a round	–	unknown	C	0%
1 Dec 2019	$95.1M	$54.8M – $228M	$150M (+58%)	after a round	–	unknown	C	0%
1 Jan 2020	$100M	$54.8M – $228M	$150M (+50%)	after a round	–	unknown	C	0%
1 Feb 2020	$105M	$54.8M – $228M	$150M (+43%)	after a round	–	unknown	C	0%
1 Mar 2020	$110M	$54.8M – $228M	$150M (+36%)	after a round	–	unknown	C	0%
1 Apr 2020	$116M	$54.8M – $228M	$150M (+30%)	after a round	–	unknown	C	0%
1 May 2020	$121M	$54.8M – $228M	$150M (+24%)	after a round	–	unknown	C	0%
1 Jun 2020	$128M	$54.8M – $228M	$150M (+18%)	after a round	–	unknown	C	0%
1 Jul 2020	$134M	$54.8M – $228M	$150M (+12%)	after a round	–	unknown	C	0%
1 Aug 2020	$141M	$54.8M – $228M	$150M (+7%)	after a round	–	unknown	C	0%
19 Aug 2020	$210M	$148M – $447M	$315M (+50%)	after a round	–	unknown	B	0%
1 Sep 2020	$213M	$148M – $447M	$315M (+48%)	after a round	–	unknown	B	0%
1 Oct 2020	$220M	$148M – $447M	$315M (+43%)	after a round	–	unknown	B	0%
1 Nov 2020	$228M	$148M – $447M	$315M (+38%)	after a round	–	unknown	B	0%
1 Dec 2020	$236M	$148M – $447M	$315M (+33%)	after a round	–	unknown	B	0%
1 Jan 2021	$244M	$148M – $447M	$315M (+29%)	after a round	100	unknown	B	0%
1 Feb 2021	$252M	$148M – $447M	$315M (+25%)	after a round	100	unknown	B	0%
1 Mar 2021	$260M	$148M – $447M	$315M (+21%)	after a round	100	unknown	B	0%
17 Mar 2021	$1.7B	$1.5B – $2.5B	$2.2B (+30%)	after a round	100	unknown	A	0%
1 Apr 2021	$1.7B	$1.5B – $2.5B	$2.2B (+29%)	after a round	100	flat	A	0%
1 May 2021	$1.8B	$1.5B – $2.5B	$2.2B (+26%)	after a round	100	flat	A	0%
1 Jun 2021	$1.8B	$1.5B – $2.5B	$2.2B (+23%)	after a round	100	flat	A	0%
1 Jul 2021	$1.8B	$1.5B – $2.5B	$2.2B (+20%)	after a round	100	flat	A	0%
1 Aug 2021	$1.9B	$1.5B – $2.5B	$2.2B (+18%)	after a round	100	flat	A	0%
1 Sep 2021	$1.9B	$1.5B – $2.5B	$2.2B (+15%)	after a round	100	flat	A	0%
1 Oct 2021	$2.0B	$1.5B – $2.5B	$2.2B (+13%)	after a round	100	flat	A	0%
15 Oct 2021	$3.8B	$3.3B – $5.6B	$4.9B (+30%)	after a round	100	flat	A	0%
1 Nov 2021	$3.8B	$3.3B – $5.6B	$4.9B (+28%)	after a round	100	flat	A	0%
1 Dec 2021	$3.9B	$3.3B – $5.6B	$4.9B (+26%)	after a round	100	flat	A	0%
1 Jan 2022	$4.0B	$3.3B – $5.6B	$4.9B (+23%)	after a round	100	flat	A	0%
1 Feb 2022	$4.1B	$3.3B – $5.6B	$4.9B (+20%)	after a round	100	flat	A	0%
1 Mar 2022	$4.1B	$3.3B – $5.6B	$4.9B (+18%)	after a round	550	growing	A	0%
1 Apr 2022	$4.2B	$3.3B – $5.6B	$4.9B (+15%)	after a round	550	growing	A	0%
1 May 2022	$4.3B	$3.3B – $5.6B	$4.9B (+13%)	after a round	550	growing	A	0%
1 Jun 2022	$4.4B	$3.3B – $5.6B	$4.9B (+10%)	after a round	550	growing	A	0%
1 Jul 2022	$4.5B	$3.3B – $5.6B	$4.9B (+8%)	after a round	550	growing	A	0%
1 Aug 2022	$4.6B	$3.3B – $5.6B	$4.9B (+5%)	after a round	550	growing	A	0%
1 Sep 2022	$4.7B	$3.3B – $5.6B	$4.9B (+3%)	after a round	550	growing	A	0%
1 Oct 2022	$4.8B	$3.3B – $5.6B	$4.9B (+1%)	after a round	550	growing	A	0%
1 Nov 2022	$4.9B	$3.2B – $5.6B	$4.9B (0%)	after a round	550	unknown	A	0%
1 Dec 2022	$4.9B	$3.0B – $5.6B	$4.9B (0%)	after a round	550	unknown	B	0%
1 Jan 2023	$5.1B	$3.2B – $5.8B	$5.1B (0%)	after a round	650	up	A	0%
1 Feb 2023	$5.1B	$3.2B – $5.8B	$5.1B (0%)	after a round	650	up	B	0%
1 Mar 2023	$5.1B	$3.1B – $5.8B	$5.1B (0%)	after a round	650	up	B	0%
1 Apr 2023	$5.1B	$3.1B – $5.8B	$5.1B (0%)	after a round	650	up	B	0%
1 May 2023	$5.1B	$3.1B – $5.8B	$5.1B (0%)	after a round	650	up	B	0%
1 Jun 2023	$5.1B	$3.1B – $5.8B	$5.1B (0%)	after a round	650	up	B	0%
1 Jul 2023	$5.1B	$3.0B – $5.8B	$5.1B (0%)	after a round	650	up	B	0%
1 Aug 2023	$5.1B	$3.0B – $5.8B	$5.1B (0%)	after a round	650	up	B	0%
1 Sep 2023	$5.1B	$3.0B – $5.8B	$5.1B (0%)	after a round	650	up	B	0%
1 Oct 2023	$3.3B	$1.8B – $5.1B	$2.6B (-22%)	after a round	560	down	B	75%
1 Nov 2023	$3.2B	$1.7B – $5.1B	$2.3B (-26%)	after a round	560	down	B	75%
1 Dec 2023	$3.1B	$1.7B – $5.2B	$2.3B (-27%)	after a round	560	down	B	75%
1 Jan 2024	$3.1B	$1.6B – $5.2B	$2.2B (-28%)	after a round	560	down	B	75%
1 Feb 2024	$3.0B	$1.5B – $5.3B	$2.2B (-28%)	after a round	560	down	C	75%
1 Mar 2024	$2.7B	$1.4B – $5.2B	$1.8B (-32%)	after a round	550	down	C	87%
1 Apr 2024	$2.6B	$1.4B – $5.3B	$1.8B (-33%)	after a round	550	down	C	87%
1 May 2024	$2.6B	$1.3B – $5.3B	$1.7B (-34%)	after a round	550	down	C	87%
1 Jun 2024	$2.5B	$1.2B – $5.4B	$1.7B (-34%)	after a round	550	down	C	87%
1 Jul 2024	$2.5B	$1.2B – $5.4B	$1.6B (-35%)	after a round	550	down	C	87%
1 Aug 2024	$2.5B	$1.1B – $5.4B	$1.7B (-33%)	after a round	510	flat	C	80%
1 Sep 2024	$2.6B	$1.0B – $5.5B	$1.8B (-32%)	after a round	510	flat	C	74%
1 Oct 2024	$2.7B	$986M – $5.5B	$1.9B (-31%)	after a round	510	flat	C	68%
1 Nov 2024	$2.4B	$929M – $5.5B	$1.7B (-30%)	after a round	490	down	C	69%
1 Dec 2024	$2.3B	$884M – $5.4B	$1.6B (-30%)	after a round	490	down	C	69%
1 Jan 2025	$2.3B	$840M – $5.4B	$1.6B (-30%)	after a round	490	down	C	69%
1 Feb 2025	$2.2B	$799M – $5.4B	$1.5B (-31%)	after a round	490	down	C	69%
1 Mar 2025	$2.2B	$763M – $5.4B	$1.5B (-31%)	after a round	490	down	C	69%
1 Apr 2025	$2.1B	$725M – $5.4B	$1.5B (-31%)	after a round	490	down	D	69%
1 May 2025	$2.2B	$690M – $5.4B	$1.5B (-29%)	after a round	490	down	D	64%
1 Jun 2025	$2.3B	$656M – $5.3B	$1.6B (-28%)	after a round	490	down	D	59%
1 Jul 2025	$1.4B	$610M – $5.3B	$854M (-38%)	after a round	440	down	D	97%
1 Aug 2025	$1.3B	$579M – $5.3B	$824M (-38%)	after a round	439	down	D	97%
1 Sep 2025	$1.3B	$550M – $5.3B	$810M (-37%)	after a round	439	down	D	97%
1 Oct 2025	$1.4B	$523M – $5.3B	$915M (-33%)	after a round	434	down	D	89%
1 Nov 2025	$1.3B	$497M – $5.2B	$984M (-26%)	after a round	434	down	D	85%
1 Dec 2025	$1.3B	$473M – $5.2B	$982M (-23%)	after a round	434	down	D	85%
1 Jan 2026	$1.2B	$449M – $5.2B	$981M (-21%)	after a round	434	down	D	85%
1 Feb 2026	$1.2B	$429M – $5.2B	$999M (-18%)	after a round	442	down	D	84%
1 Mar 2026	$1.3B	$409M – $5.2B	$1.1B (-16%)	after a round	442	down	D	77%
1 Apr 2026	$1.4B	$389M – $5.1B	$1.2B (-13%)	after a round	440	down	D	71%
1 May 2026	$1.5B	$370M – $5.1B	$1.3B (-11%)	after a round	440	down	D	65%
1 Jun 2026	$1.6B	$353M – $5.0B	$1.4B (-9%)	after a round	446	flat	D	60%
1 Jul 2026	$1.7B	$336M – $5.0B	$1.5B (-7%)	after a round	446	flat	D	55%
1 Aug 2026	$1.7B	$320M – $5.0B	$1.7B (-5%)	after a round	452	flat	D	51%
1 Sep 2026	$1.8B	$312M – $4.9B	$1.8B (-5%)	after a round	452	flat	D	47%
1 Oct 2026	$2.0B	$315M – $4.9B	$1.9B (-5%)	after a round	468	flat	D	43%
24 Oct 2026	$1.5B	$231M – $4.9B	$1.4B (-11%)	after a round	468	flat	D	40%

Key facts about Dutchie

Founded: 2017
Headquarters: Bend, United States
Employees: about 468 +8% in a year
Total raised: $600M
Funding rounds: 4
Last round: Series D Oct 2021

Dutchie was founded in 2017 by Ross Lipson and Zach Lipson.

Dutchie funding history

Dutchie has 4 funding rounds on record, from Sep 2019 to Oct 2021, $600M in total. The latest disclosed valuation is $3.75B post-money (Series D, Oct 2021).

Series D 14 Oct 2021
Led by D1 Capital Partners; with Tiger Global, Dragoneer Investment Group, DFJ Growth, Thrive Capital, Gron Ventures, Casa Verde, Willoughby Capital, Glynn Capital, Park West Asset Management.
Sources: journeyonevc.substack.com, geekwire.com
$350M
$3.75B post-money
Series C 16 Mar 2021
Led by Tiger Global; with Dragoneer Investment Group, DFJ Growth, Casa Verde, Thrive Capital, Gron Ventures, Maveron.
Sources: dutchie.com, cnbc.com, goodwinlaw.com and 2 more
$200M
$1.70B post-money
Series B 18 Aug 2020
Led by Thrive Capital; with Casa Verde, 35V, Gron Ventures.
Sources: finsmes.com, prnewswire.com, goodwinlaw.com and 1 more
$35M
Series A 10 Sep 2019
Led by Gron Ventures; with Casa Verde, 35V, Sinai Ventures, Shutterstock, DoorDash.
Sources: prnewswire.com, newcannabisventures.com, finsmes.com and 1 more
$15M

Dutchie investors

16 investors have backed Dutchie; Gron Ventures, Thrive Capital and D1 Capital Partners and 1 more led at least one round.

Gron Ventures lead, 4 rounds
Thrive Capital lead, 3 rounds
D1 Capital Partners lead
Tiger Global lead
DFJ Growth 2 rounds
Dragoneer Investment Group 2 rounds
DoorDash
Park West Asset Management
Shutterstock
Sinai Ventures
Tiger Global
Willoughby Capital

What Dutchie does

Dutchie works in tech companies, with 13 recorded offerings and customers in cannabis.

Courier Plus, Inc., known as Dutchie, is a technology company engaged in providing technology platforms and services for the cannabis industry, focusing on connecting cannabis collectives or cooperatives (dispensaries) with their customers and primary caregivers. The company offers solutions such as point of sale systems, ecommerce platforms, and cashless payment solutions, facilitating the sale of cannabis products through an integrated ecosystem. Dutchie serves dispensaries and customers across multiple cities in North America, including Tacoma, Seattle, Portland, Bend, Eugene, Beaverton, Los Angeles, San Francisco, Ann Arbor, Detroit, Hazel Park, Boston, Great Barrington, Denver, Boulder, Las Vegas, Reno, Phoenix, Toronto, Ottawa, Kitchener, and Vancouver. The company also provides guidance and support to dispensaries and customers, and operates a network of partners and affiliates to support its services.

Description from Veridion's company data.

Products and services

Cannabis Retail Platform Development
Point of Sale System Development
E-commerce Platform Development
Cashless Payment Solution Development
Automated Compliance Management Services
Inventory Management Services
Multi-Location Retail Management Services
Digital Money Management Services
SEO and Personalized Recommendation Services
Mobile Application Development
Website Platform Development
Third-Party Integration Services
Social Justice Partnership Services

Markets

Cannabis

Business model

Business-to-Business
Service Provider
Software-as-a-Service

Industry codes (NAICS)

513210 Software Publishers 100% match

Questions about Dutchie

What is Dutchie worth?

Valuation $1.5B (range $231M to $4.9B), as of 24 Oct 2026. The last disclosed valuation was $3.75B (Series D, Oct 2021).

Has Dutchie raised money?

Dutchie has 4 funding rounds on record, from Sep 2019 to Oct 2021, $600M in total. The latest disclosed valuation is $3.75B post-money (Series D, Oct 2021).

Who has invested in Dutchie?

Gron Ventures, Thrive Capital, D1 Capital Partners, Tiger Global, Casa Verde and 35V, and 10 more. Lead investors include Gron Ventures, Thrive Capital, D1 Capital Partners and Tiger Global.

How many people work at Dutchie?

About 468, up 8% over the last year. Headcount rose from 100 in Jan 2021 to 650 in Jan 2023, then fell to 468 in Sep 2026.

What does Dutchie do?

Dutchie works in tech companies, with 13 recorded offerings and customers in cannabis. Its main offerings are cannabis retail platform development, point of sale system development and e-commerce platform development.

When was Dutchie founded, and where is it based?

Dutchie was founded in 2017 and is based in Bend, United States. It has about 468 employees, up 8% over the last year.

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