Bend-based Dutchie, a cannabis sales platform, completed a new round of venture capital funding, receiving $350 million in Series D Funding from investors, according to the company.
The company, valued at $3.75 billion, received this latest round of funding just seven months after $200 million in Series C funding from investors who inject capital into a business that is established in an effort to receive more than double that amount back.
The latest round of funding was led by D1 Capital Partners with participation from previous investors including Tiger Global, Dragoneer, DFJ Growth, Thrive Capital, Gron Ventures, Casa Verde Capital, Willoughby Capital, Glynn Capital and Park West Asset Management.
Dutchie will use the new funding to attract and add talent, assist in expansion into new markets and research and develop products to support cannabis dispensaries.
The platform provides access to cannabis retailers for consumers. It's used by more than 5,000 dispensaries in the United States and Canada, processing $14 billion in sales annually, according to the company.
The company was founded by brothers Ross and Zach Lipson.