- Companies
- Goodleaf Farms
Goodleaf Farms Funding, Investors & Competitors
Goodleaf Farms has raised $217M across 3 funding rounds, most recently a $37M undisclosed-stage round in November 2025.
Last Goodleaf Farms funding round
$37M
Undisclosed stage · Nov 2025
Cumulative funding Goodleaf Farms raised
$217M
across 3 funding rounds
Key investors in Goodleaf Farms
McCain Foods
Power Sustainable
Farm Credit Canada
About Goodleaf Farms
Goodleaf Farms is a Vancouver-based vertical farm growing microgreens, salad mixes, and herbs hydroponically in a 6,500-square-foot facility. Using stacked LED-lit towers, it harvests daily for British Columbia restaurants and grocers, consuming 95% less water than field agriculture. The company focuses on traceability and zero pesticides, supplying over 100 varieties seasonally.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Sectors
Goodleaf Farms Funding History
Goodleaf Farms has raised a total of $217M across 3 funding rounds.
Goodleaf Farms' first fundraising round was a $30M strategic investment round in February 2021. The most recent completed round was a $37M undisclosed-stage round in November 2025.
Goodleaf Farms funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Nov 2025 | Undisclosed stage | Farm Credit Canada; McCain Foods; Power Sustainable | $37M | GoodLeaf Farms, Canada's largest national vertical farming operator, completed a CAD 52 million (approx. USD 37 million) equity financing round announced November 13, 2025, with investments from Farm Credit Canada (FCC), McCain Foods, and Power Sustainable Lios, including both new and existing shareholders. The funds will expand production capacity at its farms in Alberta (Calgary) and Quebec (Montreal), doubling output at its two largest facilities in 2026, and establish a new research and development center in Ontario at its Agricultural Centre of Excellence in Guelph to advance sustainable growing practices. The company operates three vertical farms totaling over 280,000 square feet of production space and serves more than 2,700 national retail locations with baby greens, microgreens, and blends. CEO Andy O’Brien highlighted entering 2025 with strong momentum, noting that by April 2025, demand for products nearly doubled due to consumer embrace of Canadian-grown greens. Investors expressed confidence in GoodLeaf's model amid food security challenges, with FCC deepening its partnership to support local food production, Power Sustainable Lios citing operational and financial milestones achieved in a tough market, and McCain Foods continuing support as an early backer focused on sustainable agriculture transformation. This round builds on prior growth, including expansion into Alberta and Quebec farms and increased retail presence with major grocery and food service partners. FCC's involvement adds institutional strength alongside existing backers like Export Development Canada (EDC), positioning GoodLeaf to enhance Canada's food economy, productivity, and reliable fresh produce supply. |
| Dec 2022 | Undisclosed stage | McCain Foods (lead); Power Sustainable (lead) | $150M | GoodLeaf Farms, Canada's leading indoor vertical farming operation specializing in baby greens and microgreens, secured a $150 million capital raise around December 2022 led by McCain Foods and Power Sustainable Lios. The financing supports national expansion with new fully automated farms planned in Calgary and the Montreal area, building on its existing 50,000-square-foot facility in Guelph, Ontario. This investment strengthens GoodLeaf's position through partnerships with a global food giant and a specialized agri-food investor focused on sustainable growth. The round enables year-round production of superior, garden-fresh products free from seasonal limitations, emphasizing industry-leading food safety and commercial operations. CEO Barry Murchie highlighted the strategic addition of these investors to drive innovative agriculture technology revolutionizing Canadian food production. Power Sustainable Lios' Managing Partner Jonathan Belair praised GoodLeaf's pan-Canadian strategy for reliable, locally grown nutritious greens. McCain Foods' Chief Growth & Strategy Officer Peter Dawe noted alignment with their innovative and sustainability values, replicating ideal springtime growing conditions daily for local supply. A later 2025 $52 million equity financing involved the same key investors plus Farm Credit Canada for further capacity doubling and a new R&D center, but this is distinct from the 2022 raise. |
| Feb 2021 | Strategic investment | McCain Foods (lead) | $30M | GoodLeaf Farms is a Canadian vertical farming company founded in 2011 in Halifax that uses hydroponic technologies, LED lighting, and multi-level vertical farming to grow microgreens and baby greens year-round. The company began as TruLeaf Sustainable Agriculture and opened its first commercial 45,000-square-foot facility in Guelph, Ontario in 2019, growing products like Ontario Baby Kale, Ontario Baby Arugula, and Ontario Spring Mix for distribution at major Canadian retailers including Loblaws, Sobeys, and Metro. In February 2021, GoodLeaf completed a CAD$150 million (US$110.2 million) equity financing round led by McCain Foods, an existing investor that had backed the company since 2018 and held majority shareholder status as a minority owner. The round also included participation from Power Sustainable Lios, a specialist agri-food investor, and the capital was earmarked for expansion of indoor vertical farms into eastern and western Canada, with two new facilities expected to begin production in late Q2 or early Q3 2023 and create up to 140 new jobs. Since the 2021 round, the company has continued raising capital and expanding; in 2025 the company reported nearly doubled demand for its products by April, and completed a separate CAD$52 million (approximately US$37 million) equity financing round from Farm Credit Canada, Power Sustainable Lios, and McCain Foods to double output at its two largest farms and support R&D operations at its newly opened Agricultural Centre of Excellence in Guelph. |
Who has invested in Goodleaf Farms?
3 investors have backed Goodleaf Farms across its funding rounds, including McCain Foods, Power Sustainable and Farm Credit Canada.
Lead investors include McCain Foods and Power Sustainable.
Goodleaf Farms Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Feb 2021 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialGoodleaf Farms Competitors
Goodleaf Farms competitors include listed companies like Corteva, BASF, Archer-Daniels-Midland and Nutrien, and private ones like Meicai and Farmers Business Network.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $17B | $2.9B | $54B | 3.2x | ||
| Publicly listed | $69B | $8.2B | $52B | 1.0x | ||
| Publicly listed | $80B | $2.9B | $42B | 0.6x | ||
| Publicly listed | $27B | $6.1B | $38B | 1.8x | ||
| Private | - | - | $7B | - | ||
| Private | - | - | $4B | - |
Goodleaf Farms Public Comps
Goodleaf Farms 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 Goodleaf Farms competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Goodleaf Farms
| When was Goodleaf Farms founded? | Goodleaf Farms was founded in 2015. |
| Where is Goodleaf Farms headquartered? | Goodleaf Farms is headquartered in Guelph, Canada. |
| Is Goodleaf Farms publicly listed? | No, Goodleaf Farms is a private, VC-backed company. |
| How much funding has Goodleaf Farms raised? | Goodleaf Farms has raised $217M across 3 funding rounds. |
| What was Goodleaf Farms' last funding round? | Goodleaf Farms' last funding round was a $37M undisclosed-stage round in November 2025. |
| Who are Goodleaf Farms' investors? | Goodleaf Farms' investors include McCain Foods, Power Sustainable and Farm Credit Canada. |
| Which companies are comparable to Goodleaf Farms? | Companies comparable to Goodleaf Farms include Corteva, BASF, Archer-Daniels-Midland, Nutrien, Meicai and Farmers Business Network. |
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