Companies focused on big data and farm management tools are just sweeping up funds from VCs these days, as more farmers bring their ipads, laptops and phones to the fields.
Conservis Corporation, a company providing cloud-based management tools to farmers, announced a $10 million close on their Series A. The round was led by Cultivian Sandbox Ventures, also with contribution to the round from existing investors Middleland Capital and Heartland Farms.
“The plan is to get cash flow break even,” CEO Patrick Christie told AgFunder, after asked how far the funds will carry the company. ” I would like to see us become the platform globally for farmers to have one place where they can go and get quality, thoughtful decision making. A place most modern companies enjoy.”
Founded in 2009, the Minneapolis, MN-based company has raised $5.5 million from angel investors over the past five years, according to Christie, and in his eyes, the round comes just in time. He described kidney stones as being more fun than raising funds and said, “So this [new $10 million] is a significant round because now this really is about [building] scale,” he said.
The funds will be used to almost double its current staff, according to Christie, and will allow the company to expand its farm management tools and consumer base. The announcement was made at the Ag Innovation Showcase, which is taking place through September 10th in St. Louis, MO. (Check out our discussion with two of the Ag Innovation Showcase’s creators.)
AgFunder Co-Investment Fund III is now open for investment. Closing June 15, Spots are limited.
Conservis provides farmers cloud-based farm management tools, which can be accessed via a computer or cellphone. The tools allow farmers to track grain weight, carts, schedules, deliveries, billings and payments in real time, as well as planting and harvesting records. Conservis says that their product is currently being used on large, family farms in 26 states across the country. And while not the only cloud-based farming tool out there, they say their particular focus on business gives them an edge in the field.
“Well “farm management products” is a big bucket of things,” Christie said. “We believe our focus on the business side of farming is not only unique, it’s where the farmers really spend a lot of their time and need help. We’re looking at the enterprise of the field–of the whole–and serviceing those needs.”
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