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- Bushel
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
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
Website
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
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jul 2023 | Undisclosed stage | The Banc Funds (lead); Agrifood; Continental Grain Company; Cargill; The Scoular Company; Lewis & Clark AgriFood; Germin8 Ventures; Andersons; 50 South Capital | $26M | Bushel 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 2021 | Series B | Continental Grain Company (lead); Lewis & Clark AgriFood (lead); CGB Enterprises; Cargill; The Scoular Company; Germin8 Ventures; Andersons | $47M | Bushel 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 2019 | Series A | Continental Grain Company (lead); Germin8 Ventures | $20M | Bushel 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 2018 | Seed | - | $7M | - |
| Jun 2017 | Seed | Gen7 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Dec 2019 | ||
| 3 | Participant | Dec 2019 | ||
| 2 | Participant | Apr 2021 | ||
| 2 | Participant | Apr 2021 | ||
| 2 | Lead | Apr 2021 | ||
| 2 | Participant | Apr 2021 | ||
| 1 | Participant | Jul 2023 | ||
| 1 | Participant | Apr 2021 | ||
| 1 | Participant | Jul 2023 | ||
This data is available for Pro users. Sign up to see all 11 Bushel investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions 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
| 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 Country | ||
| HQ City | Omaha, NE | Ann Arbor, MI |
| Deal Date | 12 Oct 2021 | 16 Jun 2021 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Bushel acquisitions and their M&A valuation multiples. Start Free Trial | ||
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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $270M | - | ||
| Private | - | - | $7B | - | ||
| Private | - | - | $1.5B | - | ||
| Publicly listed | $1.1B | $288M | $12B | 10.6x | ||
| Publicly listed | $729M | $305M | $6.8B | 8.1x | ||
| Publicly listed | $53B | $1.1B | $6.3B | 0.2x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $17B | $2.9B | 3.3x | 3.2x | 19.5x | 13.9x | |||
| $69B | $8.2B | 1.1x | 1.0x | 8.9x | 8.6x | |||
| $80B | $2.9B | 0.6x | 0.6x | 17.4x | 11.2x | |||
| $27B | $6.1B | 1.9x | 1.8x | 8.2x | 8.0x | |||
| $21B | $5B | 2.0x | 2.3x | 8.7x | 16.1x | |||
| $4.8B | $1.6B | 7.1x | 6.7x | 21.7x | 17.9x | |||
| $70B | $2.3B | 0.6x | 0.5x | 17.9x | 11.2x | |||
| $7.1B | $3.2B | 3.5x | 3.1x | 7.7x | 6.8x | |||
This data is available for Pro users. Sign up to see all Bushel competitors and their valuation data. Start Free Trial | ||||||||
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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