High valuation: Bend has a unicorn in dutchie

Sometimes funding rounds are put together to fund acquisitions. And that seems to be the case with Bend startup dutchie, which just announced a $200 million Series C and the acquisition of two partners. All of that equates to one thing. There’s a unicorn in Oregon with a valuation of $1.7 billion.

“Dutchie’s mission is to provide safe and easy access to cannabis while helping power the positive societal change that cannabis is bringing to the world,” said Ross Lipson, CEO and Co-founder at dutchie in a press release. “We believe we have a responsibility to help contribute to the next evolution of the industry, help all sides of the market grow, and create opportunities and outcomes that benefit all of our partners and consumers.”

And the acquisitions create quite a formidable company.

LeafLogix and Greenbits have always been great partners. As we grew closer we found that these companies, in particular, shared our passion for customer success and our beliefs around the benefits cannabis can have on society. Over time it became clear that officially bringing our teams and technology together would create unparalleled opportunities to build solutions for our retailers. Thus, the decision was made for dutchie to acquire both companies. With these acquisitions we knew that major investments would be needed to grow our teams and build new technology, so in addition we raised our Series C – a $200M round led by some of the most prominent technology investors in the world.

For more, see the dutchie blog post.

(Hat tip Dylan Boyd)