FARGO — A Fargo-Moorhead software company that develops an app for grain buyers celebrated a historic investment Tuesday, Dec. 17.
Bushel announced it got nearly $20 million from three grain companies — Continental Grain Company, Lewis & Clark AgriFood and Germin8 Ventures — to help fund its software designed to help farmers to access contracts and pay their bills from their phones.
Bushel's CEO and co-founder Jake Joraanstad said the investment will help the company further improve its software within the next year.
"If you know a farmer, they're busy all the time — especially in harvest," he said. "They don't have time to run around and keep up with receipts and enter things into the computer at home."
Joraanstad said it also comes at a great time this year, as farmers across the country are seeing one of the toughest harvests in a while.
"How can we go faster so that there's more benefit? Not just in the next few years, but next year and right now," he said. "How do we bring more benefit to these companies as they go through this tough period?"
After this investment, the company will have raised more than $28 million for its software since 2015.