December 17, 2014
A Y Combinator alum, FarmLogs helps over 15 percent of US farms analyze data to increase their profitability. Based out of Ann Arbor, Michigan, FarmLogs announced that they have successfully closed a Series B funding round in which they raised $10 million; to date they’ve amassed $15 million in funding.
The capital includes follow-on participation from existing investors Drive Capital, Huron River Ventures, and Hyde Park Venture Partners. There were also new investors participating in the round too including SV Angel and Sam Altman, President of Y Combinator.
“I’m a huge fan of FarmLogs, and they have the opportunity to build a very important company,” says Altman. “Their growth has been phenomenal since they participated in YC in 2012, and Jesse [Vollmar, CEO] has a focused vision combined with relentless execution. I think improving agriculture is one of the most important challenges in the world.”
The funding will directly enable FarmLogs to further invest in product development for their data technologies while also significantly expanding their team.
“We will continue to add great people to our team of engineers, data scientists and designers,” says Jesse Vollmar, CEO and co-founder of FarmLogs. “I’m amazed at all the momentum we’ve been able to build and at how much value we can create for farms all over world. Having additional capital behind us accelerates our ability to bring the best science and technology to every farm.”
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