Funding round
Dutchie Series A
Dutchie, which works in cannabis retail platform development in Bend, raised $15M in a Series A round announced on 10 Sep 2019, led by Gron Ventures. 6 firms took part. It is Dutchie's first venture round on record.
$15M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Dutchie did not disclose a valuation in this round. It is Dutchie's first venture round on record, 2 years after it was founded in 2017. It is 2.5% of the $600M Dutchie has raised in the venture rounds on record. Dutchie raised again 11 months later: a Series B round of $35M in Aug 2020. Its next priced round, a Series C in Mar 2021, valued it at $1.70B.
Dutchie's funding rounds
Dutchie has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Gron Ventures led the round with 5 other firms.
Lead investor
- Gron Ventures new investor
Also in the round
- backs 18 venture-backed companies new investor
- backs 55 venture-backed companies new investor
- Sinai Ventures new investor
- Shutterstock new investor
- DoorDash new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
988 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $8.2M, and this round was 1.8 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 26 Sep 2019 | $43M | not disclosed | Bessemer Venture Partners |
| Tech Companies | 10 Sep 2019 | $36M | not disclosed | Insight Partners |
| Tech Companies | 17 Sep 2019 | $34M | not disclosed | K1 Investment Management |
| Tech Companies | 6 Sep 2019 | $30M | not disclosed | CMIA Capital Partners and Bintang Capital Partners |
| Tech Companies | 12 Sep 2019 | $26M | not disclosed | Venrock |
| Tech Companies | 5 Sep 2019 | $25M | not disclosed | New Leaf Venture Partners and Eclipse |
| Tech Companies | 24 Sep 2019 | $20M | not disclosed | Tencent Holdings Ltd |
| Tech Companies | 20 Sep 2019 | $17M | not disclosed | US Ecology |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Dutchie raise in its Series A round?
Dutchie raised $15M in its Series A round, announced in Sep 2019.
Who led Dutchie's Series A round?
Gron Ventures led it, with Casa Verde, 35V, Sinai Ventures, Shutterstock and DoorDash.
What was Dutchie's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
988 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $8.2M, and this round was 1.8 times the median.
Did Dutchie raise again after this round?
Yes: a Series B round in Aug 2020 of $35M.