Funding round
Dutchie Series C
Dutchie, which works in cannabis retail platform development in Bend, raised $200M in a Series C round announced on 16 Mar 2021, led by Tiger Global, at a $1.70B post-money valuation. 7 firms took part, 3 of them already investors. It is Dutchie's third venture round on record; the one before was a Series B in Aug 2020.
$200M
Amount raised
$1.70B
Post-money valuation
7
Investors
1 lead
12%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Dutchie at $1.70B after the new money. The $200M bought investors about 12% of the company. It came 7 months after Dutchie's Series B. It is 33% of the $600M Dutchie has raised in the venture rounds on record. Dutchie raised again 7 months later: a Series D round of $350M in Oct 2021, at $3.75B post-money.
Dutchie's funding rounds
Dutchie has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Tiger Global led the round with 6 other firms. Casa Verde, Thrive Capital and Gron Ventures had backed Dutchie before.
Lead investor
- Tiger Global new investor
Also in the round
- Dragoneer Investment Group backs 82 venture-backed companies new investor
- DFJ Growth backs 51 venture-backed companies new investor
- backs 18 venture-backed companies existing investor
- Thrive Capital backs 130 venture-backed companies existing investor
- Gron Ventures existing investor
- backs 77 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to acquisitions.
- Acquisitions
Comparable rounds
How it compares
467 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $60M, and this round was 3.3 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| RingCentral Tech Companies | 4 Mar 2021 | $400M | $5.65B | Andreessen Horowitz and General Catalyst |
| HighRadius Tech Companies | 30 Mar 2021 | $300M | $3.10B | D1 Capital Partners and Tiger Global Management |
| Tech Companies | 25 Mar 2021 | $200M | not disclosed | KKR and Yuan Jing Capital |
| Tech Companies | 16 Mar 2021 | $150M | $1.60B | ICONIQ Growth |
| Tech Companies | 9 Mar 2021 | $125M | not disclosed | KKR and Casdin Capital |
| Tech Companies | 16 Mar 2021 | $115M | not disclosed | Insight Partners |
| Tech Companies | 10 Mar 2021 | $107M | not disclosed | Bessemer Venture Partners and Insight Partners |
| Tech Companies | 30 Mar 2021 | $101M | not disclosed | General Catalyst |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Dutchie raise in its Series C round?
Dutchie raised $200M in its Series C round, announced in Mar 2021.
Who led Dutchie's Series C round?
Tiger Global led it, with Dragoneer Investment Group, DFJ Growth, Casa Verde, Thrive Capital and Gron Ventures and 1 more.
What was Dutchie's valuation at the Series C round?
$1.70B post-money.
How does it compare with other Series C rounds in Tech Companies?
467 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $60M, and this round was 3.3 times the median.
Did Dutchie raise again after this round?
Yes: a Series D round in Oct 2021 of $350M at $3.75B post-money.