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Acquired | Acquired

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About Green Bits

Green Bits is a retail management and compliance platform for the legal cannabis industry.On March 16th, 2021, Green Bits was acquired by Dutchie. The terms of the transaction were not disclosed.

Green Bits Headquarters Location

75 E. Santa Clara St. Floor 6

San Jose, California, 95113,

United States


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Expert Collections containing Green Bits

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Green Bits is included in 4 Expert Collections, including Store management tech (In-store retail tech).


Store management tech (In-store retail tech)

1,515 items

Startups aiming to work with retailers to improve brick-and-mortar retail store operations.



2,432 items

Companies and startups in this collection enable consumers, businesses, and governments to pay each other - online and at the physical point-of-sale.



3,834 items

These companies participate in - or service businesses that participate in - the legal cannabis industry. Our definition of cannabis includes both marijuana and hemp (and all derivatives). The collection includes both "plant-touching" and "non-plant-touching" businesses.



7,549 items

US-based companies

Latest Green Bits News

Looking to Invest in Cannabis? You May Be Focusing on the Wrong Companies

Jul 15, 2021

Newer investors in the cannabis space can experience outsized returns by setting their sights on the potential of single-state operators and ancillary services. Email Submit Will be used in accordance with our Privacy Policy and in our Book of the Week newsletter Opinions expressed by Entrepreneur contributors are their own. In the past year, the regulated cannabis industry hit a turning point. Sales increased by 46 percent during the pandemic, reaching a record  $17.5 billion  in the U.S. alone. If this trend continues, the market will grow at a CAGR of 15 percent to $41.3 billion by 2026. Early investors in cannabis have already seen outsized returns based on the initial phases of acceleration within the industry. In some cases, cannabis funds— like Poseidon’s Fund 1—achieved IRRs far exceeding the industry’s growth (30 percent CAGR) on a net basis for their LPs. Now, many mainstream investors who were once wary of the risks associated with engaging with a Schedule I substance are clamoring to enter the space as it hits a new stage of rapid growth. Yet the question remains: How can newer investors experience the same outsized returns today that the cannabis industry generated in previous years? The answer may lie in smaller, privately held companies that will attract the interest of more prominent industry players. The untapped potential of single-state operators While U.S. multi-state operators (MSOs) continue to report record year-over-year growth and drive investor enthusiasm, there is a limit on returns publicly-traded companies can generate. Yes, the top MSOs are a compelling choice for eager investors, considering how the global industry is projected to  double in size and sales  over the next five years. But early movers have already reaped the maximum ROI on these initial investments. Investors looking for maximum returns should consider targeting emerging single-state operators. The year 2020 was an inflection point for the cannabis industry. An increasing number of states are moving ahead to expand legal access and consumer adoption at  record levels . Currently,  40 percent of Americans  live in a state with adult-use cannabis, and even  seven of the most conservative states  are beginning to embrace medical marijuana. Single-State Operators (SSOs) are emerging in every state where cannabis is legal and many are drawing upon battle-tested growth strategies laid out by established MSOs. The right expertise, design, technology, and execution plans were untested at scale only five years ago. Today, the top SSOs poach expertise, leverage proven design, sign-on-tested technologies, and execute from a proven playbook. SSOs who follow this path will likely be acquisition targets for the rapidly expanding MSOs. This was evident earlier in 2021 when Ayr, TerrAscend, and GTI acquired SSOs in Arizona, Maryland, and Virginia, respectively. SSOs are quickly becoming an attractive investment target for both established MSOs and investors who are still seeking out high-return opportunities. Ancillary services will grow in tandem  Cannabis business tech and services companies are growing as well. They will also likely become targets of industry consolidators, strategics, and possibly even MSOs for acquisition. In March 2021, Dutchie  announced  it acquired Leaflogix and Greenbits in conjunction with a $200 million capital raise. HERBL, a leading California distributor of cannabis brands, recently acquired Blackbird, a software and distribution solutions company. The acquisition strategy is not unique to Dutchie or HERBL. They are just the first to execute it. Blackbird, Leaflogixm, and Greenbits acquisitions may be the first of many ancillary success stories in the industry. Considering how a growing number of retail transactions only recently migrated online during the pandemic, legal businesses are paying for services that allow them to provide truly modern consumer experiences to maintain a competitive edge. As the licensed operators scale, business tech and services must scale as well. Expect consolidation to keep up with growth. Investment strategies must adapt to the market  Cannabis investing strategies have diversified since Poseidon was founded in 2013. As the space becomes more sophisticated, investors are narrowing their focus to licenses, real estate, technology, debt, equity and convertibles. Additionally, the investment landscape has evolved alongside the legal industry. In 2013, investors only had access to early-stage startups and were entering uncharted territory. As the industry started to take shape, second-generation funds gravitated towards Series A and later rounds. While the returns generated by these opportunities may seem tangible, high investor demand for Series A has created a valuation bubble. This is why a clear-headed understanding of timing and price is critical in the cannabis industry. Cannabis investors today must be more prudent with their capital and selective about the funding rounds they enter. Those who want to get in at a reasonable price, create sustainable value, and ultimately outperform the market should prioritize the private, post-seed stage companies most relevant to the needs of today’s industry. The most promising opportunities should be able to demonstrate product-market fit and early traction before their valuations balloon like we’ve seen at Series A. Over the next few years, the growth of the industry will serve as the engine that pulls the entire cannabis industry forward. Analysts estimate that U.S. publicly traded companies are only serving  19 percent of the total addressable cannabis market today , indicating tremendous industry expansion potential over the next few years. But the successful strategies during the earliest days of the industry are not guaranteed to produce the same results now. Investing in post-seed private companies gives accredited investors a chance at yielding the same tenfold returns experienced by early players. Investors who are adaptive and have a holistic view of the sector are positioned to maximize their returns in the industry’s next inning. More from Green Entrepreneur Dustin's experience and expertise can help you monetize your message, build a marketing strategy and connect with influencers. Entrepreneur® and its related marks are registered trademarks of Entrepreneur Media Inc. The information contained on this website ("Content") represents the views and opinions of the persons or entities expressing them. The Content does not represent an endorsement by, or the views and opinions of, Entrepreneur Media, Inc. ("EMI"), is intended for informational and educational purposes only, and should in no way be interpreted as medical, legal, or any other advice concerning the cultivation, sale, or any other use of marijuana, which, although legal in some states and local jurisdictions throughout the United States, is currently illegal under federal law, as well as in other states and local jurisdictions. Because of the variety of laws, regulations, and ordinances concerning marijuana, the Content may not be suitable for your situation. Consequently, EMI makes no expressed or implied warranties nor assumes any liability whatsoever, concerning the accuracy or reliability of the information contained herein, including warranties about the legality of, or likelihood of success in, conducting a cannabis business. EMI does not advocate violating applicable law, and therefore strongly recommends that you carefully research applicable laws, and consult with appropriate licensed professionals and other experts, before taking any action in connection with, or based on, such Content.

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Green Bits Rank

  • When was Green Bits founded?

    Green Bits was founded in 2014.

  • Where is Green Bits's headquarters?

    Green Bits's headquarters is located at 75 E. Santa Clara St. Floor 6, San Jose.

  • What is Green Bits's latest funding round?

    Green Bits's latest funding round is Acquired.

  • How much did Green Bits raise?

    Green Bits raised a total of $42.2M.

  • Who are the investors of Green Bits?

    Investors of Green Bits include Dutchie, Casa Verde Capital, Tiger Global Management and DNS Capital.

  • Who are Green Bits's competitors?

    Competitors of Green Bits include Flowhub and 2 more.

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BioTrackTHC is a division of Bio-Tech Medical Software, a Florida based company, with offices in Denver, Colorado, and Washington State whose team members boast over 50 combined years in the medical industry. The company's vast level of knowledge offers a significant edge in the cannabis market. BioTrack's technology offers a robust business intelligence platform for the cannabis industry including an Enterprise System and a Traceability System. The Enterprise System provides operators with cultivation tracking; management of inventory, patients and point-of-sale; and easy accounting reporting. The Enterprise System is currently used by over 1,200 customers across 18 states and 3 countries. BioTrack's Traceability System enables government agencies to track every gram of cannabis throughout the entire production lifecycle, from cultivation, harvest and cure, quality assurance testing, transportation, destruction, and sale. The system provides real-time reporting to assist government agencies with enforcing regulations, collecting taxes and preventing the illegal sale of cannabis.

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