Funding round
Dutchie Series B
Dutchie, which works in cannabis retail platform development in Bend, raised $35M in a Series B round announced on 18 Aug 2020, led by Thrive Capital. 4 firms took part, 4 of them already investors. It is Dutchie's second venture round on record; the one before was a Series A in Sep 2019.
$35M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Dutchie did not disclose a valuation in this round. It came 11 months after Dutchie's Series A. It is 5.8% of the $600M Dutchie has raised in the venture rounds on record. Dutchie raised again 7 months later: a Series C round of $200M in Mar 2021, at $1.70B post-money.
Dutchie's funding rounds
Dutchie has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Thrive Capital led the round with 3 other firms. Casa Verde, 35V, Thrive Capital and Gron Ventures had backed Dutchie before.
Lead investor
- Thrive Capital backs 130 venture-backed companies existing investor
Also in the round
- backs 18 venture-backed companies existing investor
- backs 55 venture-backed companies existing investor
- Gron Ventures existing 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
682 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $27M, and this round was 1.3 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Rippling Tech Companies | 4 Aug 2020 | $145M | $1.35B | Founders Fund |
| Tech Companies | 14 Aug 2020 | $120M | $3.00B | Vulcan Capital |
| Tech Companies | 25 Aug 2020 | $118M | not disclosed | Insight Partners |
| Grafana Labs Tech Companies | 17 Aug 2020 | $50M | not disclosed | Lightspeed Venture Partners |
| Tech Companies | 11 Aug 2020 | $40M | $160M | Insight Partners |
| OneStudyTeam Tech Companies | 12 Aug 2020 | $30M | not disclosed | Battery Ventures |
| Tech Companies | 4 Aug 2020 | $30M | not disclosed | Aspect Ventures |
| Tech Companies | 19 Aug 2020 | $29M | not disclosed | Highland Europe |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Dutchie raise in its Series B round?
Dutchie raised $35M in its Series B round, announced in Aug 2020.
Who led Dutchie's Series B round?
Thrive Capital led it, with Casa Verde, 35V and Gron Ventures.
What was Dutchie's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
682 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $27M, and this round was 1.3 times the median.
Did Dutchie raise again after this round?
Yes: a Series C round in Mar 2021 of $200M at $1.70B post-money.