Treez is a private company focused on retail automation for the cannabis industry supply chain; today announced the closing of a $13 million Series B investment round led by Intrinsic Capital Partners.
FREMONT, CA: The new funding will be utilized to further accelerate expansion into legal state retailers for B2C and B2B commerce and extend the company's reach through APIs into best-of-breed tech stacks (ERP, CRM, and other complementary systems).
John Yang, the Treez CEO, says that they are pleased to secure this endorsement from a respected investor who has a deep understanding of emerging cannabis markets. Concurrently, the company has secured 71 percent year-to-date growth in its retail gross merchandise volume (GMV), growing to $1.7 billion across more than 270 retailers in some of the most problematic states. As the company moves into additional states, they are incredibly proud of expanding market leadership in California, where they have captured 37 percent market share.
Jerry Stahlecker, the Managing Partner at Intrinsic, noted that this investment comes when the value of real-time data within cannabis enterprises is rapidly rising. Analytics for competitive advantage and efficient operations requires the collection of critical transactional data that Treez provides.
Treez is a market-leading, enterprise-grade business management platform serving the cannabis supply chain. The platform solution benefits brands and retailers, with point-of-sale (POS), integrated payments, growth, and data software solutions. Included are analytics for real-time insights and industry cataloging technology that allows greater automation.
As noted by CFO David Yan, the company operates under a SaaS subscription model that has delivered over 75 percent year-over-year recurring revenue growth with over 100 percent net retention. This is supported by continual investment in software covering multiple touchpoints for customers, including critical compliance requirements. Treez is an essential software backbone that provides stability in an evolving regulatory landscape.
Treez was founded in 2016 by John Yang and Shareef El-Sissi. Today, the company is noted for numerous industry-changing innovations beyond original flagship point-of-sale capabilities, particularly with real-time automation between brands, retailers, and cataloging technology.