Updated: Local Ag-tech Venture Conservis Raises $10m Debt For Farming Software

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Local ag-tech Venture Conservis is raising investment to the tune of $7.7m debt funding, with $3.5m closed on per SEC disclosure.

Updated 12/14 7:00p Agfunder reports Conservis “has raised $10 million in debt financing from existing investors. The debt will provide bridge funding until the company raises a new equity round next year…

The downtown Minneapolis-based software maker allows farmers — from the solo to global — to “see their operation from the dirt up,” using the SaaS information management platform. Conservis reaped a $10m series A round last fall and placed former Monsanto CEO and Chairman Robert Shapiro on the board.

Formed in 2011 and led by CEO Patrick Christie, the overall capitalization is estimated to be just north of $20m now with current needs in product, engineering, and sales.

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