Traction Ag Closes a Key Fundraising Round with Farm Clients in Mind

May 22, 2024

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Production Cost

Analyzes costs per bushel and acre, categorized by input, equipment, and labor across various fields, farms, or crops — and it makes sense.

Real-Time Profit Tracking

Calculates profitability on a per-acre basis, updated live as expenses and yields change. So farmers always know where they stand.

Equipment Cost Allocation

Automatically assigns equipment costs—fuel, depreciation, maintenance—to jobs or fields for accurate reporting.

Field-Level Reporting

Breaks down financials by field to show performance across crops, seasons, and decisions.

Our number one company value at Traction Ag is “Put the Farmer First”. This lies at the heart of each decision we make because we believe our clients are and should remain top priority. If we aren’t bringing value to the farm, we aren’t doing our jobs. It’s with this sentiment that we have closed our Series A financing, a critical round of funding so we can better serve you, our farmers.

The Series A funding round is anchored by Cooperative Ventures and Plymouth Growth. Plymouth contributes over 20 years of expertise in nurturing category-leading software companies, while Cooperative Ventures is a fund established as a joint venture between CHS and GROWMARK, two of the largest farmer-owned agricultural supply cooperatives in North America. These investments will help drive Traction’s next phase of growth.

Traction Ag is Here for the Long Haul

In the past 18 months, we acquired two leading agtech companies: Granular (now known as Traction Enterprise) and Conservis. These acquisitions were driven by the impressive software systems that thousands of row, permanent, and specialty crop farmers depend on to operate their businesses efficiently. Traction Ag was initially the only farm accounting solution uniquely built for the cloud, integrating actual accounting numbers with field operations. With these acquisitions, our product offerings now serve small to large family farms, alongside corporate and institutional farming businesses located across North America, Australia and beyond.

We’ve also added Professional Services to help ease the stress of data entry during the busy season. These services are available if and when needed, and we’re meeting our farm clients where they are today, providing a clear path forward with their goals in mind.

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We’re working alongside farmers to continually deliver solutions that improve their businesses for this generation and beyond. Our commitment to the farmer hasn’t wavered, and we fully recognize that each relationship is a partnership that goes two ways. We do not have a ‘here today, gone tomorrow’ strategy and if that were the case, we wouldn’t have acquired two software companies with decades of innovation and history.

Scaling Responsibly Today for A Stronger Tomorrow

We raised this round of funding because we recognize that this group of investors supports our vision for responsible growth. Our goal was to find genuine partners who align with our goals and values, providing us with flexibility for the future.

This investment will enable us to speed up Traction’s product development and fill several crucial positions as we scale. We are considering our own future alongside our farmers’ futures, growing internally to better serve farmers for the long term.

We look forward to continuing this journey together!

Best regards,