Bushel Raises $7m for Farm Relationship Management Tool
Summary
Bushel, a farm relationship management tool for grain elevators, has raised $7 million in funding from a syndicate of individual investors in the agriculture and software industries. The Bushel mobile app platform integrates into grain elevators’ accounting systems to provide growers access to their contracts, scale tickets, prepays, cash bids, and markets. This latest round of funding is most like a Series B in relation to the company’s valuation but is not being labeled such as the company has no venture capital investors, JakeJoraanstad, CEO, told AgFunderNews. Most of the team grew up on farms in Fargo and developed specific expertise after working with clients including Cargill and Conservis on internal and customer-facing software programs. These marketplaces that include Farmers Business Network, FarmLead and AgVend are not competitive to Bushel although they are creating some concern among his clients, the elevators, and coops, he added.
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