Greenbits is a cannabis retail platform providing software and services to medical dispensaries and adult-use retailers. The company serves more than 1,200 retail locations across 13 states and began operating in Illinois in February after the state opened its adult-use market. Led by CEO Barry Saik, who joined in late 2019, and CTO Sarvesh Mathur, Greenbits focuses on retail software and service offerings for the cannabis industry. The company intends to use new funding to accelerate sales, marketing and product development. Greenbits is headquartered in San Jose, California. It raised $23M in Series B financing to support these initiatives. Green Bits provides a retail management and automated compliance platform that helps legal cannabis retailers run their businesses and comply with regulations. The company’s point-of-sale platform processes more than $2.2 billion in sales annually. Green Bits serves approximately 1,000 cannabis retailers across 12 states: Alaska, Arizona, California, Colorado, Maine, Maryland, Massachusetts, Michigan, Montana, Nevada, Oregon, and Washington. The company has more than 60 employees located in San Jose and Portland, Oregon. Green Bits is led by co-founder and CEO Ben Curren. The company plans to use new funding to accelerate sales, marketing, and product development and to expand product and service offerings in new geographic markets. Green Bits offers a retail management platform and point-of-sale system for the legal cannabis industry that ensures compliant retail operations with real-time, automated updates to state traceability systems and built-in controls that adhere to local laws. The platform supports revenue growth and streamlined store operations through patient and customer loyalty programs, menu offerings, and receiving and inventory tools. Its POS has passed $1.5 billion in annual sales processed. The company plans to use new funding to accelerate sales, customer support and product development. Green Bits is expanding into new geographic markets, including California, Maryland and Nevada. The company was founded in 2014 and is led by CEO Ben Curren.

Total raised

$42M

Funding rounds

3

Latest round

Series B

Latest activity

Apr 2020