Bushel Funding, Investors & Competitors

Bushel has raised $101M across 5 funding rounds, most recently a $26M undisclosed-stage round in July 2023.

Last Bushel funding round

$26M

Undisclosed stage · Jul 2023

Cumulative funding Bushel raised

$101M

across 5 funding rounds

Key investors in Bushel

  • Continental Grain Company
  • Germin8 Ventures
  • Cargill
  • Lewis & Clark AgriFood
  • Andersons
  • The Scoular Company
  • 50 South Capital
  • Gen7 Investments

Bushel Overview

About Bushel

Bushel delivers integrated software for agriculture from Fargo, North Dakota, encompassing customer relationship management, portals, offer management, and farm advisement. Its subsidiary Bushel Exchange handles digital payments, powering facilities that represent over half of U.S. and Canadian grain origination while meeting SOC 2 Type II standards via bushelpowered.com.


Founded

2017

HQ

United StatesFargo, ND

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Bushel Funding History

Bushel has raised a total of $101M across 5 funding rounds.

Bushel's first fundraising round was a $2M seed round in June 2017. The most recent completed round was a $26M undisclosed-stage round in July 2023.

Bushel funding rounds

Bushel funding rounds
DateStageInvestorsRaisedDeal Summary
Jul 2023Undisclosed stageThe Banc Funds (lead); Agrifood; Continental Grain Company; Cargill; The Scoular Company; Lewis & Clark AgriFood; Germin8 Ventures; Andersons; 50 South Capital$26MBushel is a digital farm management and agricultural payments platform serving farmers and agribusiness partners. The company offers software solutions including Bushel Farm (farm management), Bushel Payments (digital payment processing for agriculture), and integrations that provide farmers with access to cash bids, grain contracts, scale tickets, and other agricultural data through online portals. In August 2023, Bushel secured $26 million in new funding, which the company highlighted as a significant milestone demonstrating investor confidence despite a challenging capital environment. The company's revenue was reported at $7.2 million annually. Throughout 2023, Bushel launched new features including a Contracts tool for automating grain contract entry, a Make Offer button that drove a 13% increase in origination in its first year, and enhanced payment functionality designed specifically for agricultural workflows. The platform continued to expand its ecosystem through partnerships and integrations, earning recognition on CropLife's 2023 Best Ag Apps List for both Bushel Farm and ADM's Farmview powered by Bushel technology.
Apr 2021Series BContinental Grain Company (lead); Lewis & Clark AgriFood (lead); CGB Enterprises; Cargill; The Scoular Company; Germin8 Ventures; Andersons$47MBushel is a digital platform that connects farmers and agribusinesses, providing software solutions for grain facilities including mobile apps for scale tickets, contracts, commodity balances, cash bids, and market data. It integrates with grain facility accounting systems and serves over 1,200 grain locations across the U.S.. The Series C funding round in April 2021 raised $47 million with investors including Cargill, CGB Enterprises, Continental Grain Company, Germin8 Ventures, Lewis & Clark AgriFood, The Andersons, Inc., and The Scoular Company; Continental Grain Company and Lewis & Clark AgriFood were noted as leads. Prior rounds included Series Unknown $1.5M in June 2017, Series A $7M in May 2018, and Series B $19.5M in December 2019. Post-2021, Bushel secured a $26 million oversubscribed round led by The Banc Funds Company, with participation from existing investors like Cargill, Germin8, Lewis & Clark AgriFood, The Andersons, The Scoular Company, and new ones including 50 South Capital and Conti Ventures. This funding aimed to accelerate digitization, enhance product offerings, and expand the Bushel Network, which manages account data for over 45% of U.S. and Canada farm-originated grain, estimated at 10 billion bushels annually. Developments since 2021 include launching Bushel Wallet for digital payments, Bushel Farm management software following the FarmLogs acquisition, and improved mobile offer management with 42% of grain sale offers via mobile devices. Bushel's ecosystem supports $22 billion in annual grain contracts and has grown to serve a network of over 100,000 farmers and 2,600 grain and ag retail locations. The company has appeared on the Inc. 5000 list six times, indicating rapid growth. Total funding across rounds reached approximately $101.5 million by the 2023 round.
Dec 2019Series AContinental Grain Company (lead); Germin8 Ventures$20MBushel is an independently owned software company providing technology solutions for growers, grain buyers, protein producers, and food companies in the agriculture supply chain. It develops digital tools including mobile apps, trading platforms, and data services to improve efficiency, profitability, and market access. The $19.5 million Series B round closed around December 2019, led by Continental Grain Company, with participation from Germin8 Ventures, Lewis & Clark AgriFood, and prior investors. This brought total funding to over $28 million since 2015, used to accelerate product offerings for the grain industry and broader agriculture supply chain, including financial services, farm management, production data linkage, sustainability traceability, and local sourcing. At the time of the Series B, Bushel's platform engaged over 15% of U.S. grain volume monthly, serving more than 1,200 grain receiving locations in the U.S. and Canada and 20,000 producers. The funding supported expansion of software products amid strong revenue growth, though specific revenue or ARR figures were not disclosed. Bushel emphasized its independent, nimble approach resonating with customers to strengthen relationships between consumers, grain buyers, and producers. Subsequent rounds built on this foundation: a $47 million Series C in 2022 led by Lewis & Clark AgriFood and Continental Grain, reaching 40% of U.S. grain origination and $22 billion in annual grain contracts; and a $26 million round in 2023 led by The Banc Funds Company with Conti Ventures and others, surpassing 45% of grain origination in the U.S. and Canada. These developments introduced payments, credit, trading, and enhanced data services, positioning Bushel as a leading independent ag-tech network.
May 2018Seed-$7M-
Jun 2017SeedGen7 Investments (lead)$2M-

Who has invested in Bushel?

11 investors have backed Bushel across its funding rounds, including Continental Grain Company, Germin8 Ventures, Cargill, Lewis & Clark AgriFood, Andersons and The Scoular Company.

Lead investors include The Banc Funds, Continental Grain Company, Lewis & Clark AgriFood and Gen7 Investments.


Bushel Investors

Investors in Bushel by funding rounds participated
InvestorHQRoundsRoleFirst check
Continental Grain CompanyUnited StatesNew York City, NY3LeadDec 2019
Germin8 VenturesUnited StatesChicago, IL3ParticipantDec 2019
CargillUnited StatesMinneapolis, MN2ParticipantApr 2021
The Scoular CompanyUnited StatesOmaha, NE2ParticipantApr 2021
Lewis & Clark AgriFoodUnited StatesSt Louis, MO2LeadApr 2021
AndersonsUnited StatesToledo, OH2ParticipantApr 2021
AgrifoodSpainLleida1ParticipantJul 2023
CGB EnterprisesUnited StatesCincinnati, KY1ParticipantApr 2021
50 South CapitalUnited StatesUnited States1ParticipantJul 2023

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Acquisitions by Bushel

Bushel has acquired 2 companies to date.

Last acquisition by Bushel was on October 12th 2021. Bushel acquired Grainbridge for undisclosed valuation.


Latest Acquisitions by Bushel

Grainbridge
FarmLogs
Description
Grainbridge is an Omaha, Nebraska-based agricultural software provider offering web platforms for grain management and trading. Launched in 2007, it connects farmers, elevators, and buyers with tools for contracts, payments, and market data. The company serves the U.S. Midwest through mobile apps and integrations with scales. Acquired by Bushel in 2021, Grainbridge enhances supply chain efficiency for cooperatives and merchants.
FarmLogs is an agriculture technology platform offering farm management software for crop scouting, weather tracking, soil mapping, and yield analysis. The service provides mobile apps for field data collection and AI-driven insights to optimize planting, fertilizing, and harvesting. FarmLogs serves over 30,000 farms across North America with integrations to John Deere and Climate FieldView. Founded in 2011 in Ann Arbor, Michigan, it was acquired by DTN in 2021, enhancing precision agriculture tools for row crops like corn and soybeans.
HQ CountryUnited StatesUnited States
HQ City
Omaha, NE
Ann Arbor, MI
Deal Date12 Oct 202116 Jun 2021
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Bushel Competitors

Bushel competitors include listed companies like Manhattan Associates, Descartes Systems Group and Ingram Micro, and private ones like Jianan Nongmu, Meicai and ElasticRun.

Public and private companies comparable to Bushel
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Jianan NongmuChinaSuqianPrivate--$270M-
MeicaiChinaBeijingPrivate--$7B-
ElasticRunIndiaPunePrivate--$1.5B-
Manhattan AssociatesUnited StatesUnited StatesPublicly listed$1.1B$288M$12B10.6x
Descartes Systems GroupCanadaCanadaPublicly listed$729M$305M$6.8B8.1x
Ingram MicroUnited StatesUnited StatesPublicly listed$53B$1.1B$6.3B0.2x

Bushel Public Comps

Bushel is still privately-owned, but its public comps include Corteva, BASF, Archer-Daniels-Midland, Nutrien, Muyuan Foods, Novonesis, Bunge, CF Industries, Qinghai Salt Lake Industry and Wilmar International.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Corteva$17B$2.9B3.3x3.2x19.5x13.9x
BASF$69B$8.2B1.1x1.0x8.9x8.6x
Archer-Daniels-Midland$80B$2.9B0.6x0.6x17.4x11.2x
Nutrien$27B$6.1B1.9x1.8x8.2x8.0x
Muyuan Foods$21B$5B2.0x2.3x8.7x16.1x
Novonesis$4.8B$1.6B7.1x6.7x21.7x17.9x
Bunge$70B$2.3B0.6x0.5x17.9x11.2x
CF Industries$7.1B$3.2B3.5x3.1x7.7x6.8x

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Common questions about Bushel

When was Bushel founded?Bushel was founded in 2017.
Where is Bushel headquartered?Bushel is headquartered in Fargo, ND, United States.
Is Bushel publicly listed?No, Bushel is a private, VC-backed company.
How much funding has Bushel raised?Bushel has raised $101M across 5 funding rounds.
What was Bushel's last funding round?Bushel's last funding round was a $26M undisclosed-stage round in July 2023, led by The Banc Funds.
Who are Bushel's investors?Bushel's investors include Continental Grain Company, Germin8 Ventures, Cargill, The Scoular Company, Lewis & Clark AgriFood, Andersons, Agrifood, CGB Enterprises, 50 South Capital, Gen7 Investments and 1 other.
Which companies are comparable to Bushel?Companies comparable to Bushel include Jianan Nongmu, Meicai, ElasticRun, Manhattan Associates, Descartes Systems Group and Ingram Micro.
How many companies has Bushel acquired?Bushel has acquired 2 companies, including Grainbridge and FarmLogs.

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