How FarmLead’s Funding Helps You, The Farmer
March 20, 2017
Farming is a very patient occupation. The hours spent alone out in a field. The fortitude required to deal with malfunctioning equipment – seemingly for no reason (something that’s been compounded by technology these days). The patience required to watch a crop grow, and the patience to pray that Mother Nature stays amicable throughout that season.
You can’t forget the patience and endurance needed to deal with the grain markets.
In an increasingly globalized world, events and issues that affect specific markets are observed, speculated upon, and ignored faster than ever before. My grandfather, were he alive, would be wondering how to make a grain sale with so much changing so quickly.
Patience is a trait I was taught to respect growing up. Over time, I’ve learned to patiently let things run their course. That being said, once you’ve figured out how to do something right, why not go further and faster with it? It’s certainly applicable the first time each of us rode a bike. Or maybe got on the ice and skated around. Or when the combine is rolling through a crop and you’d like to pick up the pace a bit! It makes sense to put a little more oomph behind something if it’s a good thing.
We think we’ve got a good thing going here at FarmLead. We’re providing an actionable grain marketing tool for all farmers, regardless if they farm 100 acres or 10,000. No other agricultural technology can be used immediately to generate a return without actually paying anything up front. Our mission at FarmLead is to help farmers, of all sizes and all types of crops, feel more confident their sales strategy, regardless if it’s 1,000 bushels or 100,000 bushels at a time.
Accordingly, we’re happy to announce that we’ve taken on some investment partners. These partners, like us, believe in supporting the farmer and providing greater certainty when making a grain sale. Our partners in this pursuit of more open grain markets and better deals for farmers include Monsanto Growth Ventures (MGV), Avrio Capital, Serra Ventures and MaRS Investment Accelerator Fund. Our lead investors, MGV and Avrio Capital have no shortage of experience in the agricultural technology space, with their investments being wide and significant. Their support of our thesis about the continuous evolution of grain trade is unparalleled, and we couldn’t be happier to have Kiersten from MGV and Aki from Avrio join our board.
As the start-up world calls it, we’ve closed a Series A round – raising $6.5M USD. That brings our total funding to a little over $7M in the last few years of operation. With this investment FarmLead will be physically cementing ourselves in the heart of America and the historical trading world of grain – Chicago, Illinois.
We’re currently hiring in both Ottawa and Chicago, adding developers, analysts, and marketing staff. We’ll also be building our Customer Success team to support farmers throughout North America, and then… (North American farmers aren’t the only ones who need help navigating the
murky grain market waters.)
More specific to you, the farmer, this investment increases our ability to provide new tools, faster. While we won’t show all our cards just yet, this includes basis negotiation, futures prices integration, and other features that will help you close more profitable deals on FarmLead. Our pursuit of making sure farmers get paid remains paramount, which is why we’ll be dedicating resources to these projects.
We at FarmLead have tasked ourselves with providing more actionable options for farmers to sell their physical, cash grain. No one has been able to replicate that phone call negotiation until we introduced the FarmLead Marketplace (auctions are one thing, conversations are another). We’re proud of the fact that over 1.4 million tonnes of grain have been successfully negotiated on the FarmLead Marketplace in the past 2.5 years!
Ultimately, we know you want an easy-to-use platform that helps you access good-to-deal with buyers – and helps buyers to find you. You want a platform that makes sure that you’re getting paid for the grain you were patient enough to grow.
You deserve better grain marketing options. FarmLead will always be your teammate in that task and we’re excited to work with you to help you be more confident in your grain marketing decisions as we we change how grain is traded today and in the future.
President | CEO