Decisive Farming Corp, an Irricana, Alberta-based agricultural technology company, has raised $6 million in a Series A financing. The round was led by Canadian venture capital firm McRock Capital and joined by Export Development Canada. With the financing, McRock’s Whitney Rockley will join the company’s board. Led by CEO Remi Schmaltz, Decisive Farming delivers precision solutions and mobile and cloud software tools to crop farmers and agriculture service providers. Its flagship product, Optimize RX, uses soil analysis and GIS mapping to support the seeding and fertilizing of crops. Founded in 2011, Decisive Farming is also backed by the Accelerate Fund.
McRock Leads $6 Million Investment in Decisive Farming
Toronto, Ontario–(Oct 28, 2016) – McRock Capital Corporation, a leading venture capital fund manager focused exclusively on the Industrial Internet of Things (IIoT), announced today that it has led a $6 million Series A financing in Alberta-based Decisive Farming Corporation. Decisive Farming provides crop farmers and agriculture service providers with precision agriculture solutions and mobile and cloud-based software tools to operate their businesses more profitably. Export Development Canada (EDC) also participated in the financing. In addition to the new capital raised, EDC and Accelerate Fund converted existing notes as part of the Series A financing.
Decisive Farming’s flagship product, Optimize RX, uses soil analysis and GIS mapping to help farmers efficiently seed and fertilize their crops in an effort to maximize profits. The company’s IIoT cloud-based software app, My Farm Manager, connects key people, service providers and data to manage and optimize the entire farming operation.
“Our family has been in the farming industry for four generations,” says Remi Schmaltz, CEO of Decisive Farming. “When we founded the company in 2011, we understood the profound impact that agronomy, data analytics, and software has on improving profitability in the crop farming industry. The opportunity to partner with McRock, a dedicated IIoT VC fund with experience in scaling IIoT solutions, was an incredible opportunity for our shareholders.”
“Over the past five years, we have seen overwhelming evidence that the agricultural sector is leading the charge in the adoption of IIoT solutions,” says Whitney Rockley, Co-founder and Managing Director of McRock Capital. “The crop farmers’ positive response to Decisive Farming’s solutions, combined with the company’s impressive revenue growth and efficient use of equity, makes this an exciting addition to our investment portfolio.”
As part of the financing, Whitney Rockley, Co-founder of McRock Capital, will join the Decisive Farming Board of Directors.
About Decisive Farming Corporation – Decisive Farming provides highly effective management solutions to crop farmers and agriculture service providers. Decisive’s focus is on precision agronomics, crop marketing and information management services that are geared toward farm profitability, sustainability and ease-of-use. Decisive’s services are setting the standard in quality and performance. Their solutions are fully integrated through their web software, My Farm Manager, and are supported by leading providers in the industry.
Visit www.decisivefarming.com and follow on Twitter @DecisiveFarming
About McRock Capital – McRock is the first dedicated Industrial Internet of Things (IIoT) venture capital fund focused on the intersection of sensors and software in large industrial markets. The McRock team has a unique background of building high-growth venture-backed IIoT companies while also having worked in the power, water, oil and gas industries. McRock is backed by several leading institutional investors as well as Cisco Systems and Électricité de France (EDF).
Visit www.mcrockcapital.com and follow on Twitter @McRockCapital
Photo courtesy of Decisive Farming Corp