Bushel Secures $26 Million to Accelerate Digitization in Agriculture

Bushel, the leading digital platform connecting farmers and agribusinesses, successfully closed an oversubscribed $26 million funding round led by The Banc Funds Company with further support from new and existing investors. In addition to The Banc Funds Company, other investors in this round included 50 South Capital, The Andersons, Inc., Cargill, Germin8, Lewis & Clark AgriFood, The Scoular Company, and Conti Ventures (an investment group within Continental Grain Company).

Bushel is an independently-owned software company that develops digital tools for farmers and agribusinesses in the agricultural supply chain. Bushel’s software digitizes, permissions, and accelerates the flow of information, transactions, and payments through secure mobile and desktop applications.

This investment will support Bushel’s continued development of software products and features that create value for farmers, grain buyers, ag retailers, protein producers, and food companies. Some of the company’s key initiatives include:

“Bushel’s connectivity with thousands of farmers, grain elevators, and ag retailers presents a unique opportunity to embed digital payment functionality across the granular, paper-based, agricultural industry. As the agricultural industry modernizes payments, we believe the financial opportunities are substantial, and we are proud to partner with such a dynamic and innovative team as they continue to strengthen the company’s product offerings,” said Christopher Hopkins, Fintech Portfolio Manager at The Banc Funds Company. Christopher also joined Bushel’s board of directors.

“We appreciate the strong support of our investors, who recognize the value Bushel is bringing to agriculture,” Jake Joraanstad, Bushel CEO said. “With this funding, we will strategically allocate capital to maximize our growth and success, further enhancing our product offerings and delivering even greater value to our customers.”

Since its previous funding round in April 2021, Bushel introduced additional industry-leading software products and services that address inefficiencies, drive increased revenue through more grain procurement offers, reduce costs from outdated payment methods, and enhance the customer experience throughout the agricultural supply chain.

“As agriculture continues its march towards a digital revolution, Bushel is committed for the long haul, serving the ongoing and ever-changing needs of the entire supply chain,” Bushel President Ryan Raguse said.

Bushel is an independently owned software company and leading provider of software technology solutions for growers, grain buyers, protein producers and food companies, headquartered in Fargo, ND. See all author stories here.