After closing on a $10 million Series A, which was led by Cultivian Sandbox Ventures in September of last year, Minneapolis-based ag tech firm, Conservis, has raised another $3.5 million in financing, according to regulatory filings.
Founded in 2009, Conservis Corporation has become a global leader in the growing cloud-based farm management software solutions space, and is being employed to manage over $8 billion in farmland, equipment, and crop assets according to the company’s website. Through the use of its SaaS information management platform farmers can access data and reports from either a mobile device or a computer, and can “see their operations from the dirt up”, reports Tech{dot}MN.
The company planned to use the funds raised through its Series A last year to expand its geographical reach and to drive its product development. Conservis’ previous investors include not only Cultivian Sandbox, but also Heartland Farms and Middleland Capital, and its overall capitalization is now estimated to be slightly over $20 million.
The farm management tech firm is also looking to raise an additional $4.2 million through the sale of debt securities.