Cannabis tech firm ends $11.5-million funding round

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California-based Treez to use the funds for expansion

A cannabis-based company out of Oakland, CA has raised $11.5 million from a funding round. Treez, a tech firm that provides point-of-sale software systems to over one hundred marijuana retailers, closed the Series A funding round today. The company reports that it has now received a total of $15 million in investment money since opening.

The funding round was led by Intrinsic Capital Partners, which put up $10 million. The remainder of the “oversubscribed” round was seen by Welcan Capital and AFI Capital Partners. Previously, Arcadian Funds, Salveo Capital and New York ARC Angels have also invested in the company.

According to Intrinsic partner Jerry Stahlecker, “Our focus at Intrinsic is investing in sector-leading technology and life science companies run by entrepreneurs prepared to grow their businesses and transform the cannabis industry. We’re excited to invest in a team that has delivered the industry’s leading enterprise retail management technology and look forward to supporting Treez in growing its market share and developing broader industry solutions.”

Treez was founded in 2016 by John Yang and Shareef El-Sissi. It is a retail management software company that provides regulation-compliant payment solutions to some of the leading dispensaries across the country.

Yang, who serves as the company’s CEO, said of the funding, “When we created Treez, we understood the impact our technology could have within the cannabis industry—ushering in a new era of automated compliance, data-driven insights, and a more modern, integrated cannabis ecosystem. We’re thrilled that our funding has put us in a position where we can continue to expand our team, invest in beneficial partnerships, and bring more creative retail management solutions to this rapidly growing industry.”