February 4, 2016

Irrigation management systems company, Hortau, has raised a $10 million round of financing led by Advantage Capital Agribusiness Partners (ACAP) and including BDC Capital Inc., Avrio Ventures LP II, and Capital régional et coopératif Desjardins.

“Hortau continues to prove itself as an innovator in agriculture technology mindful of the needs of farmers,” said Timothy Hassler, principal at Advantage Capital Partners, in a recent press release. “We are excited about partnering with Hortau once again and look forward to supporting the company’s continued growth.”

This investment marks ACAP’s second investment in Hortau, which since its founding in 2002, has grown to become a leader in web-based irrigation management systems that helps farmers reduce plant stress, reduce water and energy use and costs, and lessen the overall environmental impact of agricultural production. Using its proprietary technology, Hortau’s platform monitors crop health in real time, an ability that is particularly crucial as drought conditions continue throughout the state of California and other regions across the U.S.

“Over the last 13 years, we have worked hard to provide technology to farmers to increase efficiencies and improve their bottom line,” said Jocelyn Boudreau, CEO at Hortau in a company statement. “This new round of funding will enable us to increase our field support and bring new features to our hardware and software, adding more versatility to our platform.”

ACAP is a Rural Business Investment Company (RBIC) structured as a $154.5 million fund licensed by the U.S. Department of Agriculture (USDA). The fund is a partnership between Advantage Capital Partners and nine Farm Credit organizations, established with the goal of facilitating easier access to credit for rural agricultural businesses and supporting the development of rural communities through job creation.  

The Rural Business Investment Company is a new and innovative way to encourage more private sector investment in rural America,” said U.S. Secretary of Agriculture Tom Vilsack. “Matching private investors with small businesses in rural communities helps companies get the capital they need to grow and create jobs. We are excited to see this fund continue to support businesses like Hortau.”