Treez (www.treez.io), 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. The new funding will be used to further accelerate expansion into legal state retailers for B2C and B2B commerce, as well as extend the company’s reach through APIs into best-of-breed tech stacks (ERP, CRM and other complementary systems).
John Yang, Treez CEO, stated, “We are pleased to receive this endorsement from a respected investor with a deep understanding of emerging cannabis markets. Concurrently, the company has achieved 71 percent year-to-date growth in our retail gross merchandise volume (GMV), growing to $1.7 billion across more than 270 retailers in some of the most complex states. As we move into additional states, we are particularly proud of our expanding market leadership in California, where we’ve captured 37 percent market share.”