FarmLogs, the leading agricultural tech startup and Y Combinator alum that helps over 15 percent of U.S. farms analyze data to increase their fields’ profitability, announced that it has closed a $10 million Series B round of financing.
The $10 million capital raise includes follow-on participation from existing investors Drive Capital, Huron River Ventures, and Hyde Park Venture Partners. New investors participating in this round–which takes FarmLogs’ total funding to $15 million–include SV Angel and Sam Altman, president of Y Combinator.
“I’m a huge fan of Jesse and FarmLogs, and they have the opportunity to build a very important company,” said Sam Altman, president of Y Combinator. “Their growth has been phenomenal since they participated in YC in 2012, and Jesse has a focused vision combined with relentless execution. I think improving agriculture is one of the most important challenges in the world, and I’m excited to be involved.”
The funding will enable FarmLogs to further invest in product development for its best-in-class data technologies, to significantly expand its team and to continue to rapidly execute on its vision for the future of farming.
“We will continue to add great people to our team of engineers, data scientists and designers,” said Jesse Vollmar, CEO and co-founder of FarmLogs. “I’m amazed at all the momentum we’ve been able to build and at how much value we can create for farms all over world. Having additional capital behind us accelerates our ability to bring the best science and technology to every farm through intuitive software.”
Together with farmers from all 50 states and over 130 countries across six continents, FarmLogs is transforming the oldest and most important industry in the world with cutting-edge software and data science that help farms from 100 acres to 50,000 acres make informed decisions and increase yield production.
FarmLogs’ intuitive web and mobile apps help break down the barriers that many of the large industry vendors have set in place and put critical operational data insights directly into the hands of the farmer. FarmLogs uses software and data science to bring critical farm data online in real time to help farmers manage and analyze the large amounts of underutilized data collected from their fields.