Traction Ag Rounds Out Year of Rapid Growth for Farm Management Software
Farm accounting and management platform continues upward trajectory with funding, acquisition and partnerships
INDIANAPOLIS, Ind., Jan. 25, 2023 — Traction Ag Inc., the first cloud-based accounting software delivering solutions to growers across the Midwest, today recognizes a momentous year of growth, solidifying their position as the leader in farm accounting technology.
In 2022, Traction Ag experienced several milestones:
- Increased team size 100% and customers served by 300+% in the last 12 months
- Secured funding from Hageman Group, Allos Ventures and Elevate Ventures to expand platform capabilities and grow its customer service team
- Expanded solution value by acquiring the Granular Business platform, which enhanced overall service offerings and expanded Traction’s reach to enterprise growers
- Announced partnership with CropZilla, allowing users to streamline the process for optimizing equipment fleets
- Launched the Climate FieldView™ integration that provides farmers with a complete analysis of their field profitability
“Since the founding of Traction Ag, our priority has been to deliver real value to farmers and give them peace of mind when making financial decisions,” said Ian Harley, CEO and co-founder of Traction Ag. “Last year brought a number of milestones that both affirmed Traction as a leader in the industry and established our continued support to growers navigating the fast-changing digital landscape.”
Over 60% of farmers are currently using accounting software that isn’t specific to farming and missing out on crucial industry metrics like crop/yield profit center analysis and accurate margin per unit of production. By automating farmers’ data collection, the Indiana-based company saves time, improves accuracy and simplifies decision-making.
“It’s clear that Traction Ag was built with an understanding of the unique characteristics and values that drive farmers,” said Brian Watkins, Ohio Farmer and Traction Ag user. “As a grower, there is immeasurable value in having a single source of truth for financial management and reporting. The growth of Traction Ag over the past year is a true testament of their commitment to helping producers thrive in financial management and decision-making.”
Traction Ag provides a unique value proposition in providing industry-leading growers with the functionality and data they need to make critical decisions on the farm. In turn, this allows them to grow their overall operations and lay the foundation for the next generation of farmers. For more information, visit tractionag.com.
About Traction Ag
Traction Ag is the only farm management solution uniquely built for the cloud, integrating actual accounting numbers with field operations, resulting in real-time financial analysis for timely, informed decision-making. Traction Ag delivers the most extensive suite of farm-specific accounting capabilities in a cloud application and allows users to automatically and easily maintain inventory balances for crops and supplies, tracks costs of production and field level profitability, providing crucial insights and saving valuable time. The company is majority employee and farmer-owned business and leverages integrations with Climate FieldView and John Deere Operations Center to automate and ease the collection of field activities.