OAKLAND, Calif., Feb. 9, 2021 /PRNewswire/ -- Treez (www.treez.io), a private company focused on retail automation and control for the cannabis industry supply chain, today reported impressive 2020 year end results that cut through the challenges of 2020's difficult business climate.
The company's overall goal of doubling down on success in customer satisfaction translated into a near double of corporate revenue growth. Competitive displacement soared. Additionally, a 2X rise in gross merchandise value (GMV) to $2 Billion in retail sales was achieved through 4.5 million unique consumers.
John Yang, Treez CEO, stated that "We couldn't be more proud of our employee responsiveness to customer needs during this difficult year for many retailers seeking to adapt. Numerous innovations have been driven by the challenges of 2020."
Treez distinguished itself during 2020 with notable operational successes:
- The company's enterprise cannabis supply chain platform enabled dispensary customers to rapidly respond to COVID-19 challenges with real-time insights and capabilities such as online ordering, contactless payments, curbside pickup
- Delivered a surge of SellTreez adoption by retailers, leading to an 83% increase in product adoption for this already-leading cannabis POS system.
- New understanding with deep data: introduction of AskTreez, a data analytics platform for real-time insights. The cannabis supply chain ecosystem recognized the value of this offering through adoption, given that today AskTreez customers already represent 25% of all wholesale GMV
- Launched TreezPay: first and only fully-integrated cannabis payments software
- Significantly, superior Treez solutions drove a 73% competitive replacement rate
- Proven value for ERP and the entire ecosystem: Treez has over 50 API integration partners with a volume that has increased 340%
- Rapid overall corporate customer growth, a rise exceeding 80%
- Increased market penetration into states CA, AZ, MI. Geographic expansion continues in 2021 with 5 new states.
- Closed on $13.5M in growth capital during Q3
- Increased management and governance depth with talent recruitment
Treez is a market-leading, enterprise-grade business management platform offering retail automation and control for the cannabis industry supply chain. The company's innovation benefits brands and retailers, with point of sale (POS), integrated payments, and a broad range of data software capabilities that span the vertical. Increasingly recognized are analytics that provide real-time insights and automated inventory control.
Treez was founded in 2016. Today, the company is noted for numerous industry-changing innovations beyond original flagship point-of-sale capabilities, particularly with real-time automation between brands, retailers and cataloging technology.
The company operates with leading market share in California as well as continued expansion into numerous other select states.
Treez contact: [email protected]