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Australian livestock software company raises A$3.6m

High net worth investors led a A$3m raise for AgriWebb's app-based livestock management software, which will go to developing the company along with a government grant.

Australian farm management software company AgriWebb has raised A$3 million ($2.28 million; €2.05 million) from high net worth individuals, to expand sales of its app-based software for livestock operations.

Investors in the close include real-estate manager Perennial Group’s John Murray, tobacco corporate Altria Group consultant Bill Webb, Abu Dhabi-based weapons and infrastructure company Al Hamra Group, and existing customers of the company, AgriWebb president Kevin Baum told Agri Investor.

The company has also been approved for a A$572,000 Accelerating Commercialisation grant from the Australian government.

The company, which has 300 customers in the Australian livestock sector, will use the raise to add to its development, sales and marketing teams, and improve compatibility of its software with third-party sensor and RFID products, in order to improve data management for individual animals.

“A lot of commercial operations in Australia are still relying on a pencil and paper to track their day-to-day farm management. They’re eager for the gains digital tools can offer them,” said Baum.

Most software currently available for managing Australian livestock operations consists of desktop-heavy programmes targeted at the largest properties, said Baum. Agriwebb makes a product that can be accessed in the field via a tablet or smartphone by operators with limited back-office resources. The software can be used for a variety of functions including managing paddock rotations, tracking costs of food and veterinary treatments, generating reports and budgeting.

The product also helps producers meet quality assurance and be more transparent, which can help producers reach markets including the EU, which has specific auditing requirements for exports, said Baum.

The company is also developing functionality targeted at agronomists and consultants, to strengthen their link to producers.