GV (formerly Google Ventures), DBL Partners, Kleiner Perkins Caulfield & Byers and Acre Venture Partners have participated in a $20 million raise for Farmer’s Business Network, an information sharing service and inputs distributor for US farms.
Acre Venture Partners, a $125 million venture capital fund launched by Campbell Soup in early 2016 to invest in food start-ups, led the round.
Farmer’s Business Network operates an information-sharing network of roughly 2,500 US farmers for pricing and performance evaluation of farm inputs, and yield benchmarking information delivered from popular farming software, according to the company’s website.
The company also offers a farm management mobile app and a procurements service it claims offer savings by eliminating sales and overhead costs associated with retail operations.
“The FBN network creates a future for farmers that is independent, data driven, transparent, and fair with real competition for their business. It all boils down to more profits for independent family farms and better outcomes for consumers,” said vice-president of products, Charles Baron.
FBN closed on $15 million in May 2015, in a raise led by Google Ventures, and with its most recent raise has received roughly $48 million in funding, according to the company website.