SAN FRANCISCO, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Treez, the leading enterprise commerce technology platform that streamlines retail and supply chain operations within the cannabis industry, today reports continued growth in their 2022 full-year results. The report reflects the launch of new offerings, global and U.S. expansion, a successful capital raise, and the acquisition of fintech technology company Swifter, among other achievements.
“2022 was a year of tremendous momentum for Treez, as we surpassed our expansion targets for the year all while investing to bring our services to more retailers across the U.S.,” said John Yang, CEO of Treez. “Over the last year, we delivered on our promise of sustainable commitment to providing best-of-breed software solutions to cannabis retailers. Our continued growth demonstrates that customers are responding to our offerings through our proven ability to drive business results and operational efficiency for their businesses. Our alignment with our customers positions Treez for long-term differentiated viability and bolsters confidence in our 2023 outlook.”
Treez’s 2022 accomplishments include:
- Secured $51 million in Series C funding, with a company valuation in excess of $260 Million. The round brought new investment from Long Ridge Equity Partners, a New York-based growth equity fund focused on high growth software and fintech companies, Kayne Partners, a Los Angeles-based growth equity group, and Synchrony, a leading consumer (B2C) financial services company. Existing investors also participated in the round.
- Expansion of their leading point of sale and payments platform into eight new states in 2022. This milestone exceeded expansion projections made in the beginning of 2022 of entrance into five new markets by the end of the year. The Treez portfolio now encompasses 14 states with the addition of Massachusetts, New Jersey, Mississippi, South Dakota, Maine, Oregon, Nevada and Illinois. Treez also remains the leader in market share by GMV in California, powering large retail operators such as The Parent Company, Glass House Group and Catalyst.
- Completion of the Swifter acquisition, to enhance financial services and digital payments solutions for the cannabis industry. Through the acquisition of Swifter, Treez will be able to provide embedded partner-powered fintech solutions that will ultimately lead to more transparency, stability and better processing rates for retailers.
- Early Access Release of the Latest Version of Treez Point of Sale Software. With this update, retailers can expect to grow sales, reduce loss, find new upsell opportunities, and create operational efficiency in their business.
The latest software includes:
- Enhanced Retail Analytics platform empowers every retail stakeholder with powerful and intuitive insights baked directly into the point of sale so that leaders, managers, and budtenders can make real-time decisions with real-time data. Treez added dashboards with every major role in mind. Sales numbers, inventory, and what quantities to order are digestible and on mobile devices, and are available on a single-view dashboard, instead of needing to toggle back and forth between multiple dashboards.
- Industry-First Integration Hub, meets the demands of growing independent retailers, as well as multi-location and multi-state operators to streamline integrations between their business systems. Treez Integration Hub unlocks access to integrations with best-in-breed technology providers from cannabis and beyond, including enterprise-grade CRMs, business intelligence, communications software, ERPs and supply chain software solutions. Retailers can now expect to leverage systems like Odoo, Salesforce, SAP, NetSuite, as well as bring their own tools all through one integrated platform. By connecting these systems and the data that flows between them, Treez Integration Hub creates time savings and reduces labor hours by removing the need for retail employees to manually input or sync that data themselves.
- Multi-store management provides a single source of information for all stores to allow managers to delegate responsibilities more effectively across locations, stay apprised of actions taken across all stores, and improve security with self-service user onboarding and deactivation.
- Continued Global Expansion with the opening of its engineering operations in Trivandrum, India and expansion within British Columbia. The Trivandrum and British Columbia operations represent Treez's engineering centers with Oakland, California continuing as its corporate office. Treez’s global expansion resulted in an 82% year-over-year increase in its employee base.
- Named one of America’s Fastest-Growing Private Companies by Inc. 5000 for the second year in a row. The most prestigious ranking of the nation's fastest-growing private companies.
- Achieved SOC 2 Type I Compliance, a stringent voluntary compliance process, validating Treez’s cloud infrastructure as compliant with its business processes, policies and procedures in ensuring the security and data processing integrity of customer information.
About Treez
Treez is the leading enterprise cloud commerce platform that streamlines retail and supply chain operations within the cannabis market. Through Treez's innovative technology and open API platform for retailers and brands, the company provides a robust breadth and depth of software and digital payments solutions, along with dedicated 24/7 customer support, required to operate a successful modern dispensary.
Solutions include point-of-sale, dispensary inventory management, omnichannel sales capabilities and multiple cashless payment options all on a mission-critical platform that ensures regulatory compliance across every supply chain transaction. The innovative technology also connects essential brands with their retailers through a centralized brand catalog with real-time market insights. The extensible open API platform provides smooth integration into a variety of best-of-breed solutions, including CRM, marketplace, cashless payments and data analytics across the partner ecosystem. Layered on top is a dedicated client success team and 24/7 customer support, giving retailers everything they need to grow their business.
For more information, visit https://www.treez.io/
Media Contact
Oak PR
Drew Tybus
drew@oakpr.com
