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Tractor Zoom raises $3 million Series A round

Tractor Zoom, an Urbandale-based auction marketing and equipment pricing company, has raised $3 million in Series A funding to scale its transparent pricing and analytics platform, Iron Comps.

Innova Memphis, Hyde Park Angels, Iowa Corn Opportunities, ISA Ventures, Ag Ventures Alliance, Ag Startup Engine and several strategic angel investors joined the round.

The company’s software solution, Iron Comps, tracks used equipment transactions and helps people transparently price used farm equipment. The technology provides users with real-time comparable sales helping with data-driven decisions as markets change to ensure a fair transaction for both buyers and sellers. Actively monitored lists deliver a new level of speed to processes that were historically very manual.

Since founding in 2017, the company has partnered with more than 450 auction companies to help market over 6,300 farm equipment auctions to an audience of more than 225,000 equipment buyers in the United States.

“We’ve consistently been asked ‘what did that sell for?’, since first marketing auctions in 2017. That’s been the driving force behind building and evolving Iron Comps,” said Kyle McMahon, Tractor Zoom founder and CEO in an announcement. “Equipment dealers and financial institutions from across the country are using Iron Comps’ transparent equipment valuations to drive ROI, increase margin and reduce risk. This fundraise allows us to invest in opportunities within our data and scale to other customer segments such as farmers, equipment manufacturers and insurance companies. Most people don’t recognize how volatile equipment prices can be. We are going to continue to invest in our technology so they can make the best data driven decisions possible.”

Tractor Zoom currently has 12 full-time employees and has 4 positions immediately available in software engineering, marketing, and customer success.

Tractor Zoom last raised a $1.5 million round in July of 2019, along with a $1 million seed round in September of 2018.


Tractor Zoom raises $1.5 million -July 16, 2019

Tractor Zoom completes $1 million seed investment round -Sept. 4, 2018

Innova Memphis invests in Iowa companies as it expands its focus to agtech -Nov. 14, 2018

Tractor Zoom: An app to hear about farm equipment sales and auctions -Nov. 27, 2017

Tractor Zoom raises $3 million Series A round | Clay & Milk
A central Iowa ag-tech accelerator has secured more backers and finally has a name. The Greater Des Moines Partnership first announced the accelerator last year, naming four initial investors. On Monday, the Partnership said the program will be called the "Iowa AgriTech Accelerator" and named three new investors. The new investors include Grinnell Mutual, Kent Corp. and Sukup Manufacturing, all Iowa companies. They join investors Deere & Co., Peoples Co., Farmers Mutual Hail Insurance Co. and DuPont Pioneer. Each investor has agreed to put up $100,000 for the first year of the accelerator. Startups entering the program will receive $40,000 in seed funding in exchange for 6 percent equity. Tej Dhawan, an angel investor and local startup mentor, is serving as interim director until the AgriTech Accelerator names a permanent leader. Dhawan held a similar role with the GIA before Brian Hemesath was named as managing director. As interim director, Dhawan said his main job includes hiring the accelerator's executive director, establishing a business structure and initial recruiting for the first cohort. The accelerator will place few filters, such as location and product, on the applicant pool, Dhawan said. "When you’re seeking innovation, innovation can come from every corner of the world so why restrict ourselves," he said. One area the the AgriTech Accelerator won't recruit from is biotech. For its first cohort, the AgriTech Accelerator will work out of the GIA's space in Des Moines' East Village, Dhawan said. A future, permanent home is still to be decided. The accelerator's program will host startups from mid-July through mid-October, ending with an event connected to the annual World Food Prize. The GIA, which the AgriTech Accelerator is based on, also ends with presentations at an industry event. The accelerator has also started lining up a mentor pool. The Iowa Corn Growers Association, Iowa Soybean Association and the Iowa Pork Producers Association have agreed to provide mentors, as has Iowa State University. While the AgriTech Accelerator is loosely based off of the GIA, it will differ in its business structure, Dhawan said. The GIA runs through a for-profit model for both operations and its investment fund. The AgriTech Accelerator will have a nonprofit model for its operations and a for-profit setup for its fund. Dhawan said the nonprofit model is being used so the accelerator can better work with other nonprofit partners, such as trade associations. "These are all organizations that are nonprofits and can be amazing stakeholders without ever having to be investors in the accelerator," he said. "It becomes easier to work with trade associations in their nonprofit role when we are also a nonprofit." When it's up and running, the AgriTech Accelerator would be one of a handful of ag-focused startup development programs in Iowa. Others include the Ag Startup Engine out of Iowa State University and the Rural Ventures Alliance from Iowa MicroLoan. Matthew Patane is the managing editor and co-founder of Clay & Milk. Send him an email at
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