Conservis Corp. is raising a large $20m round of equity capital with
$4m $12m closed per CEO Sherman Black.
The venture was formed in 2009 by Patrick Christie who was succeeded by CEO Sherman Black in 2017. They provide farm management software for farmers that helps them track field activities, manage inventories and analyze yields.
“Farmers have traditionally prioritize agronomics over economics,” Black said in an earlier interview. “Conservis helps them drive real time field level optimization. Everything relative to the manufacturing process we call farming. In the US alone, it’s a $2b opportunity.”
With customers from Australia to California — over 9,000 fields in 300 counties were on the platform as of April. As of this 9/15 update, Black has since elaborated on the round in saying:
“I am really pleased with the response to our Series C capital formation effort. Over the last year we have made tremendous progress in realizing our vision of unifying the data sets on the farm by integrating our farm management system (FMS) with critical data clouds such as Climate Field View, a Bayer service, and John Deere. These integrations into our data management platform, along with our customer experience improvements, have helped fuel our growth and create significant operational insight for our clients. We have secured almost $12 million of the $20 million target from existing investor base and expect to close on the remainder over the next couple of quarters. The proceeds will be used for expansion of our sales footprint and continued development of our farm management platform. The $4 million is only the initial draw.”
Conservis has previously raised ~$51 million in equity and Linkedin says the company has 59 employees, while headquarters is at 1624 Harmon Place in Minneapolis. Conservis is among the ‘most funded’ Minnesota tech companies at this time.