FRESNO, California, Sept. 5, 2019 /PRNewswire/ -- Fieldin, which has developed an all-in-one farm management platform that helps specialty crop growers optimize all of their field operations, has secured $12 million in financing to fuel company growth and expand its precision agriculture technology.
The Series A investment was led by Zeev Ventures, a Silicon Valley-based venture fund managed by Oren Zeev, who has backed companies such as Houzz, Audible, Chegg, TripActions, and others that are re-defining their respective industries.
Also participating in the round are Cavallo Ventures, the venture capital arm of Wilbur-Ellis, AgFunder, an online venture capital firm using technology and media to support its investments, and existing investors Germin8 Ventures, Gal Ventures and Terra Venture Partners.
Founded in 2013, Fieldin's farm management platform seamlessly enables visibility across an operation's complete range of field data (from tractors, machinery and other in-field sensors) in a single, user-friendly dashboard. This smart farm control center provides managers with actionable data that improves planning, manages risk and maximizes production across all operations and activities. From its award-winning smart spraying module, to its new smart harvesting app, Fieldin's smart tools have helped transform some of the world's largest growers into efficient, data-driven operations.
"With the backing and experience of some of the biggest names in Silicon Valley and commercial agriculture, this investment will allow us to put the pedal to the metal and ramp up our innovation and continue to lead the market in both adoption and results," said Fieldin CEO and Co-Founder Boaz Bachar. "This will allow us to get our data-driven tools in the hands of more growers and stakeholders throughout the supply chain, which will benefit everyone from the boots on the ground to the consumer, and all of the various partners they work with along the way. We look forward to seeing just how far we can take our technology."
Fieldin's latest round of funding comes on the heels of rapid revenue growth (more than 300% since the beginning of the year) and customer adoption in the fruit, nuts and vegetable markets.
"Fieldin is changing agriculture as we know it," Zeev said. "The Fieldin team has created a world-class platform that is already the go-to control center for commercial growers. I'm excited to help fuel their growth and be part of this technology revolution we're experiencing in agriculture."
The new capital will be used to support the company's rapid growth: tripling its sales, grower support and technical teams in the U.S., and expanding its R&D team and product development efforts out of its engineering and data science headquarters in Israel.
"It's been a big year for our company, covering more than 300,000 acres in California alone, and we're just getting started," said Fieldin COO and Co-Founder Iftach Birger. "We've been working tirelessly to launch new products before, after and even during the season for our growers. This harvest season, for example, we're pushing new updates to our platform nearly every day to ensure our growers can optimize every piece of the harvesting process.
"This investment will allow us to move quicker and provide our customers with the technology, ROI and service they've come to expect from the Fieldin team."
The investment is another highlight in a banner year for Fieldin, which recently opened a new office in Fresno and won the 2019 AgFunder Innovation Award in the Farm Tech category for its smart harvesting and spraying technology.
"We like Fieldin's control center for a number of reasons," said Amar Singh, Director of Strategic Investments for Cavallo Ventures. "For example, as a grower, how do you know if the agronomic recommendation was carried out as written during a spray event? Whether it's for spraying, harvesting, or other cultural practices, Fieldin provides the transparency that solidifies trust between a grower and agronomist. Now everyone has objective evidence about what has happened in the field."
To learn more about Fieldin, visit fieldin.com.
Founded by CEO Boaz Bachar and COO Iftach Birger in 2013, Fieldin's smart farming control center helps growers manage and optimize spray applications, harvest activities and all other field operations.
Using proprietary sensors and mobile-friendly software, Fieldin's platform seamlessly connects tractors, machinery and in-field sensors to provide managers with actionable data that improves production, transparency and efficiency across all operations.
To learn more, visit fieldin.com.