Bushel announces $7 million investment to accelerate growth of digital platform for grain industry
Bushel, today announced a $7 million private investment round to accelerate its patent-pending digital platform for the grain industry. The funding was led by private investors in the agriculture and software industries. The investment will be used to expand Bushel’s reach; accelerate new features, research and development and customer success; and continue evaluating strategic acquisition opportunities.
Bushel is the grain industry’s first software platform that allows grain elevators, cooperatives and ethanol plants to connect with their growers digitally to provide real-time information and payment capabilities. Offered through business-branded apps, Bushel includes real-time scale tickets, contracts, pre-pays, cash bids, e-sign, and now contract management. Bushel is a secure, cloud-based platform powered by a proprietary translator developed by Myriad Mobile, an enterprise software technology company focused on mobile and web applications.
Nearly a year following its launch in June 2017, Bushel has expanded its footprint from ten pilot locations in North Dakota to more than 400+ elevator and ethanol plant locations throughout the U.S. and Canada. More than 20,000 growers have access to Bushel-powered apps today.
“This investment will allow us to continue the acceleration of Bushel’s product roadmap, while continuing to onboard and serve grain facilities on the Bushel platform,” said Jake Joraanstad, Bushel CEO and co-founder. “Our vision for Bushel is to be the number one digital platform for the grain industry that strengthens, and makes more efficient, the relationship between grain buyers and growers.”
Bushel has been adopted by many of the leading grain elevators, cooperatives and ethanol plants in the U.S. and Canada, including Landus Cooperative, Agtegra and Flint Hills Resources. These companies provide branded versions of Bushel’s mobile platform to growers so they can access real-time information on scale tickets, contract settlements, cash-bids and more. Growers are quickly adopting Bushel because it is a free, convenient and efficient way to do business online with their trusted grain buyers.
“Over the last two decades software for grain facilities has not changed much,” said Ryan Raguse, Bushel chairman and co-founder. “Our Bushel platform embarked on a journey to change that. Our software feels easy to use because it was thoughtfully designed and built by highly collaborative software engineers, designers, and a team full of people who understand the fundamentals of farming.”
Bushel incorporates a wide variety of technologies to power the robust, efficient and scalable digital platform. The incorporated technologies allow fragmented systems to better interact, a secure cloud-based infrastructure, an API to scale for an evolving and expanding ecosystem and best-in-class communication capabilities.
Bushel’s last funding round raised $1.5 million in June 2017 through private investors. In December 2017, Myriad Mobile acquired Omaha-based iNet Solutions Group, including their FarmCentric agribusiness platform. Just last week, Bushel launched eSignature capabilities within the Bushel platform as a premium feature add-on. Myriad Mobile’s custom software development division will continue to provide ongoing strategy, design and development services, with a particular interest in agriculture-based client work.