Treez Continues Aggressive Growth Track with Announcement of Robust 2021 Results
The Cannabis Industry’s Leading Enterprise Cloud Commerce Platform Provider Reported Surging Revenue Growth, Expansion in New Markets and Compelling Business Benefits for Customers
Treez , a private company and leading enterprise cloud commerce platform that streamlines retail and supply chain operations in the cannabis market, announced highlights of its 2021 results, reflecting aggressive revenue growth, expansion in new markets, and proven delivery of impressive increases in both sales and profit margin for customers from its flagship solutions.
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Annual Recurring Revenue grew 82 percent from the year prior. The Treez platform increased its strong market penetration as adoption from retail dispensaries grew by over 62 percent year over year, while serving 5 million unique end consumers.
“Treez’s impressive growth is a direct result of how our platform is helping customers grow their businesses,” said John Yang, CEO, Treez. “Our customers have consistently reported that our solutions are driving tangible and high-value business benefits. This proven value is why Treez has earned the reputation as the cannabis market’s most innovative and comprehensive cloud commerce platform. Our mission continues to focus on helping retail dispensaries succeed.”
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Some of Treez’s other key accomplishments include:
- TreezPay, the first fully-integrated cannabis payment processing solution to offer three cashless payment options for retail dispensaries: ACH, Pin/Debit and cashless ATM, delivered over a 25 percent increase in monthly sales revenue for customers who implemented one of the cashless payment options.
- Customers who adopted AskTreez, a data analytics platform for real-time business and operational insights, saw an average 33 percent increase in monthly profit margin.
- SellTreez, a cloud commerce platform with point-of-sale, inventory management and omnichannel sales functionality, continued to be the market-leading platform in volume of transactions in California, the largest cannabis market in the U.S. The platform was launched in new state markets including Oklahoma, Missouri and Colorado last year with plans to expand to five more states in 2022.
- Generated an estimated 2 billion API calls to Treez’s innovative and scalable open API platform, driven by enhancements and integrations across several key product lines including cashless payments, e-commerce, loyalty, delivery, accounting, and marketing.
- Increased management depth with the key hirings of a Chief Revenue Officer and Vice President of Engineering in early 2021. As Treez continued to expand later in the year, the company rounded out the management team with the additions of a Vice President of Marketing and Vice President of People.
- Expanded workforce by 40 percent across 19 states in the U.S. with 45 percent of total workforce representing diversity hires.
- Completed an initial $32 million Series C funding round with new investors to help fuel sales growth, innovate and enhance functionality in its platform for single-store and multi-store operators, develop new payment solutions to facilitate safe and efficient transactions, and deliver advanced capabilities in market data and business insights for brands and manufacturers.
- Recognized by leading business organizations for its aggressive growth rate resulting in rankings of #812 in Inc. 5000, #225 Deloitte Technology Fast 500 and #13 in San Francisco Business Times’ Fastest Growing Private Companies in the Bay area.
