Green Bits

About Green Bits

Green Bits provides a point-of-sale (POS) and retail management platform tailored for the legal cannabis industry. Founded in 2014 by fintech entrepreneurs Ben Curren, Trae Robrock, and Andrew Katz, the company was established to address the complex compliance and operational needs of cannabis dispensaries. The founders' background in financial technology was pivotal, as they approached the cannabis market's challenges from a tax and compliance perspective, which they considered to be in their corporate DNA.

The company's primary offering is an iPad-based POS system that assists cannabis retailers with day-to-day operations. This platform is designed to manage state-specific regulations, such as automatic sales limits, customer ID verification, and compliant receipt and label generation. Key features include real-time inventory tracking from intake to sale, sales analytics, customer and employee management, and integrations with other industry platforms like Weedmaps and Leafly. The system automates the synchronization of sales and inventory data with state traceability systems, aiming to ensure 100% accuracy in reporting and simplify compliance for retailers.

Green Bits operates on a software-as-a-service (SaaS) model, generating revenue through its retail management platform. Its target clients are cannabis dispensaries in the United States seeking to streamline operations, manage inventory effectively, and navigate the intricate web of state regulations. Over its history, the company secured significant funding, raising a total of $42.2 million over three rounds from investors including Tiger Global Management and Casa Verde Capital. A major milestone occurred in March 2021, when Green Bits was acquired by Dutchie, a larger cannabis technology platform. This acquisition was part of Dutchie's broader strategy to create an all-in-one solution for the cannabis industry, combining e-commerce with robust POS and compliance tools. Following the acquisition, Green Bits was integrated into the Dutchie POS system and is no longer sold as a standalone product.