California cannabis tech firm Treez closes $11.5 million funding round

Treez, an ancillary cannabis tech company based in Oakland, California, raised $11.5 million to help fund its expansion.

The company offers a point-of-sale software system that currently serves more than 100 MJ retailers.

In a news release, Treez said Monday the $11.5 million represented an “oversubscribed” Series A funding. That brings to $15 million the amount of money the company has raised in total investments.

The Series A round was led by Intrinsic Capital Partners, which invested $10 million. The rest of the round was topped off by investments from AFI Capital Partners and Welcan Capital.

Treez CEO John Yang said the capital positions the company “to continue to expand our team, invest in beneficial partnerships, and bring more creative retail management solutions” to market. He did not elaborate.

Other Treez investors include Salveo Capital, New York ARC Angels and Arcadian Funds.