Farming software startup AgriWebb bags $14 million investment and an acquisition to boot

Sydney-based farm management software startup AgriWebb has secured a $14 million investment, with an acquisition on the side, for a minority stake in the business.

As well as the funding from the UK-based agriculture investment company Wheatsheaf Group, AgriWebb will receive FarmWizard, a UK provider of livestock and dairy management software, which it has acquired from Wheatsheaf as part of the deal.

Launched in 2014 by US-born co-founder and chief executive Kevin Baum, along with co-founders Justin Webb and John Fargher, AgriWebb is a cloud-based software-as-a-service livestock management platform designed to “digitise the notebooks that sat in the top pockets of Australian farmers”, Baum tells StartupSmart.

The platform digitises recordkeeping and takes audit and compliance data to help farmers make better decisions and improve productivity. According to Baum, farmers using the platform have seen up to a 20% uplift in productivity.

Globally, AgriWebb is now used on 2700 farms, 1700 of which are in Australia, and the startup has seen average revenue growth of about 10% month-on-month. Read more

Stephanie Palmer-Derrien - Startup Smart - 20 Aug 2018