ADVERTISEMENT

ADVERTISEMENT

Bushel secures $47M in Series C investment round

The infusion of growth capital and continued partnership of the syndicate will introduce payments, credit, trading offerings and increased data services, including capabilities to help consumer brands sustainably source commodities in the global grain supply chain, according to a press release.

BushelMediaKit_6.jpg
Bushel’s product suite includes its flagship mobile app, websites, trading tools, market feeds, API services and a custom software division focused on agriculture. Special to The Forum
We are part of The Trust Project.

FARGO, N.D. — Bushel , a Fargo-based software company specializing in ag-based technology, announced Tuesday, April 20, it has closed on its $47 million Series C investment fund.

The oversubscribed round was led by Lewis & Clark AgriFood, a St. Louis-based food and agriculture focused investment firm, and Continental Grain Company, a global holding company focused on agriculture, food and protein production, according to a press release. Participation from new and existing investors include Cargill, Scoular, Germin8 Ventures and others.

"This investment round will arm Bushel with the resources to expand functionality on current product offerings in the market, deploy new financial tools within our products, and continue digitizing the broader grain supply chain," said Jake Joraanstad, CEO and co-founder of Bushel. "In addition, Bushel will onboard major agribusinesses onto the platform, capturing a significant portion of market share. Bushel now has the largest, digitized network of growers and commodity buyers in the U.S."

Bushel’s platform now reaches 40% of grain origination in the United States. Annually, $22 billion of grain is contracted within Bushel’s ecosystem.

ADVERTISEMENT

“Bushel is here to win for our customers and their growers,” Joraanstad said. “We are here to build on the agriculture industry's century of infrastructure investment. We're here not to disrupt, but instead to collaborate and help lead the industry into the digital age with strategies that make sense and provide value for all stakeholders in the ag and food value chain. We serve as the independent integration hub that saves businesses significant manual effort, time and expense, while also strengthening the relationships between growers and agribusinesses through secure, proven and easy to use software products and services.”

BushelMediaKit_3.jpg
Since launching in 2017, Bushel’s platform has grown rapidly, now powering nearly 2,000 grain facilities across the U.S. and Canada with real-time business information for their producers. Monthly, 60,000 producers utilize Bushel products and services. Special to The Forum.

Monthly, 60,000 growers use Bushel’s products and services and nearly 2,000 grain buying locations across the U.S. and Canada trust Bushel to power their grower-facing and internal software products, according to a statement. Bushel’s platform integrates into multiple grain accounting systems, trading desks, farm management systems, insurance companies and market feeds to allow different software systems to work with each other.

Current grain data-sharing processes are manual and fragmented, according to Bushel, resulting in lost productivity and revenue potential. Bushel’s technologies aim to solve some of the industry’s biggest challenges and bring the grain supply chain together through connected, standardized and properly-permissioned data.

“As a grower myself, and a daily user of Bushel’s products and services, it’s been rewarding to have a front row seat to the work our team is doing to create a great platform for the existing food industry,” said Ryan Raguse, president and co-founder of Bushel, in a statement. “This also comes with a deep responsibility to be stewards of the data that flows through the digital infrastructure we’re building. In addition to the responsibility of carrying the data of our customers and their growers, Bushel’s platform also carries the data of many of our employees’ farming operations, including my own. We will continue to set high standards for data security, ownership and transparency in order to protect and empower our customers, our families and the broader agriculture industry.”

Founded in 2011, Bushel is an independently-owned technology company with 200 employees based in Fargo. To learn more, visit www.bushelpowered.com .

ADVERTISEMENT

BushelMediaKit_3.jpg
Since launching in 2017, Bushel’s platform has grown rapidly, now powering nearly 2,000 grain facilities across the U.S. and Canada with real-time business information for their producers. Monthly, 60,000 producers utilize Bushel products and services. Special to The Forum.

What to read next
40-Acre Co-op offers farmers from socially disadvantaged backgrounds support and resources to succeed in the field, while Big River Farms is an incubator farm near where farmers have access to land, farm resources and education to build their businesses.
Farmers had a challenging year in 2022 for weed infestations because of a late planting season and dryness, especially in central and southern South Dakota. Kevin Erikson, lead sales representative for Wilbur-Ellis at Salem, South Dakota, discusses recommendations for grappling with weeds, including herbicide resistance, and year-end chemical and fertilizer purchases.
Nature Energy plans to operate plants in Minnesota and Wisconsin that would use manure from dairy farms and other organic waste to create natural gas for heating homes and other uses. A subsidiary of the Shell petroleum company is buying Denmark-based Nature Energy for $2 billion
The labor intensive nature of the work, the length of time it takes for an evergreen tree in North Dakota to grow to a saleable height, and the competition from “big box” stores are deterrents to raising Christmas trees, said Tom Claeys, North Dakota state forester.