Funding round
Dutchie Series D
Dutchie, which works in cannabis retail platform development in Bend, raised $350M in a Series D round announced on 14 Oct 2021, led by D1 Capital Partners, at a $3.75B post-money valuation. 10 firms took part, 6 of them already investors. It is Dutchie's fourth venture round on record; the one before was a Series C in Mar 2021.
$350M
Amount raised
$3.75B
Post-money valuation
$3.40B pre-money
10
Investors
1 lead
2.2x
Step-up from the Series C
$1.70B in Mar 2021
9.3%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Dutchie at $3.75B after the new money, 2.2 times the $1.70B of its Series C (Mar 2021). The $350M bought investors about 9.3% of the company. It came 7 months after Dutchie's Series C. It is 58% of the $600M Dutchie has raised in the venture rounds on record. No later venture round is on record for Dutchie.
Dutchie's funding rounds
Dutchie has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
D1 Capital Partners led the round with 9 other firms. Tiger Global, Dragoneer Investment Group, DFJ Growth and Thrive Capital and 2 more had backed Dutchie before.
Lead investor
- D1 Capital Partners new investor
Also in the round
- Tiger Global backs 391 venture-backed companies existing investor
- Dragoneer Investment Group backs 82 venture-backed companies existing investor
- DFJ Growth backs 51 venture-backed companies existing investor
- Thrive Capital backs 130 venture-backed companies existing investor
- Gron Ventures existing investor
- backs 18 venture-backed companies existing investor
- Willoughby Capital new investor
- backs 44 venture-backed companies new investor
- Park West Asset Management 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
237 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 3.5 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Medable Tech Companies | 27 Oct 2021 | $304M | $2.10B | Blackstone and Tiger Global |
| Tekion Tech Companies | 5 Oct 2021 | $250M | $3.50B | Alkeon and Durable Capital Partners |
| Tech Companies | 28 Oct 2021 | $200M | $1.70B | Koch Disruptive Technologies and BlackRock |
| Tech Companies | 15 Oct 2021 | $200M | not disclosed | Lead Edge Capital |
| Tech Companies | 11 Oct 2021 | $200M | $1.00B | SoftBank Group |
| Tech Companies | 26 Oct 2021 | $115M | $500M | Sofina and Lightrock |
| Tech Companies | 1 Oct 2021 | $100M | not disclosed | not named |
| Tech Companies | 27 Oct 2021 | $45M | not disclosed | Healthworx and Panoramic Ventures |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Dutchie raise in its Series D round?
Dutchie raised $350M in its Series D round, announced in Oct 2021.
Who led Dutchie's Series D round?
D1 Capital Partners led it, with Tiger Global, Dragoneer Investment Group, DFJ Growth, Thrive Capital and Gron Ventures and 4 more.
What was Dutchie's valuation at the Series D round?
$3.75B post-money ($3.40B pre-money).
How does it compare with other Series D rounds in Tech Companies?
237 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 3.5 times the median.