Investment will accelerate Bushel’s digital connectivity for the agriculture value chain
FARGO, NORTH DAKOTA– Bushel, an independently owned software company and leading provider of software technology solutions for growers, grain buyers, protein producers and food companies, announced today the closing of its $19.5 million Series B investment. The round is led by Continental Grain Company, a global investor, owner and operator of companies across the food, agribusiness, and commodities spectrum. Participation from additional investors includes Lewis & Clark AgriFood, Germin8 Ventures and others, including previous investors. The capital and partnership of the syndicate will accelerate new offerings for the grain industry and the broader agriculture supply chain.
The investment brings the total capital raised by the company to over $28 million since 2015, which has enabled several new software products and strong revenue growth. Today, Bushel’s platform touches over 15% of U.S. grain volume. The company will use the capital to build upon its early success in grain industry technology and accelerate additional product offerings across the agriculture supply chain, including technology and solutions that improve profitability and market access for growers of all sizes. Additionally, Bushel aims to provide efficiency and insights for financial services and farm management companies across the value chain, link in-season production data and sustainable practices with downstream traceability, and enable direct and local sourcing of grains and other crops.
“We’re excited to have this group of incredible investors support us in our efforts to build software that strengthens relationships between consumers, grain buyers and producers,” said Jake Joraanstad, Bushel co-founder and CEO. “This is one of the most impressive groups of investors in the ag-tech space today. Our independent and nimble approach in this market continues to resonate with our customers. This funding will help accelerate our product offerings for grain buyers, the producers they do business with and the entire agriculture supply chain.”
With a mission to connect and enhance the grain industry through digital infrastructure, Bushel is transforming the grain business through its software. Bushel provides real-time account information directly to growers by integrating into a grain elevator’s accounting system and market feeds. Offered through elevator-branded apps, Bushel powers real-time scale tickets, contracts, commodity balances, futures, prepaids, cash bids, settlements, e-sign and contract management.
“This funding will allow Bushel to continue investing in its technology,” Ryan Raguse, Bushel founder said. “Agriculture is one of the least digitized industries. We’re in a position to provide an end-to-end digital solution for the grain industry, and the supply chain. From the smallest elevator to the biggest players in the game, Bushel is improving communication and creating efficiencies.”
Since launching in June 2017, the Bushel platform now serves 1,200+ grain receiving locations in the U.S. and Canada with 20,000 producers using Bushel-powered applications monthly. Bushel’s product suite also includes websites and market feeds, and a custom software division focused on agriculture.
Bushel is an independently owned software company and leading provider of software technology solutions for growers, grain buyers, protein producers and food companies, headquartered in Fargo, N.D. Since launching in 2017, Bushel’s software has powered 1,200+ grain facilities across the U.S. and Canada with real-time business information for their producers. Monthly, 20,000 producers utilize Bushel-powered apps, which touches over 15% of U.S. grain volume. Bushel is focused on bringing innovative software products and solutions to the agriculture industry.