Conservis Reaps ~$9.5m Debt Funding & New CEO

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Minneapolis Agtech venture Conservis has recently reaped ~$9.5m of a $12m debt round and founder Patrick Christie is no longer the CEO.

Replacing him is the previous CEO of Rimage/Qumu, Sherman Black, who has been CEO of the company since last fall, a transition that went largely unnoticed at the time.  He was recruited to bring leadership experience, additional operational bandwidth and prepare the company to scale; founder Patrick Christie is still with the company as EVP of Sales.

“Pat’s been a great business partner, fellow board member and is our EVP of business development, focused on growing our customer base, penetrating new markets, refining our strategy and positioning the company to attract new capital.  He is doing a great job!”

Conservis was formed in 2009 and is headquartered downtown Minneapolis. The software maker allows farmers — from the solo to global — to “see their operation from the dirt up,” using the SaaS information management platform.

“Agriculture is similar to a highly complex manufacturing process and demands data-driven decisions and real time insight.  Conservis is an enterprise SaaS solution combining the functionality of ERP and BI. We offer an end to end solution that covers the complete farming cycle. We enable growers to create plans, manage production activities and unify multiple streams of data on the farm into business insight.”

This isn’t the first time Conservis pulled in millions of funding; in 2014, they banked a $10m Series A and then in 2015 a bridge round of ~$10m debt from existing investors.  According to LinkedIn, they currently have 52 employees, which is down year over year but up 16% from this time two years ago:

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