Ames-based startup Farmers Risk has received an initial $50,000 investment from Ag Startup Engine.
Farmers Risk’s mission is to democratize the tools available to help farmers manage risk and create more predictable revenue on the farm.
Farmers Risk has built software tools that consolidate core risk management decisions into a single source which makes understanding risk easy, efficient, and simple. Farms are often generational businesses and securing their financial future is part of broader family legacies. Farmers Risk wants to help farmers secure their legacy by creating more profitable farms and more predictable futures long term.
“We believe understanding risk on the farm is one of the most critical steps a farm can take to securing their long-term success and profitability,” said Farmers Risk founder and CEO, Dakota Hoben in a release. “Today, we are seeing unprecedented levels of volatility in commodity markets and it’s a challenge to navigate execution of an effective risk management strategy. At Farmers Risk, our vision is to cut through the noise and bring simplicity to a farmer’s risk management decision making that empowers them to take control of their farm’s legacy. Farmers often start from different places when it comes to their risk management strategies, but we believe every farmer can improve, so we are focused on helping every farmer take the next step in their journey.”
Ag Startup Engine was launched five years ago to help address two fundamental gaps that prevent agricultural startups and entrepreneurs from being more successful: early seed-stage investment and organized mentorship from successful entrepreneurs. With the program’s second fund, their goal is to accept and invest in 45 agriculture and animal health technology startups in the next five years. To date, the program has invested in 19 different companies.
Ag Startup Engine’s investment is part of a larger seed round of financing for Famers Risk. The company plans a beta launch with a limited group in the coming months with a wider rollout this winter.
Ag Startup Engine raises second fund of $2.25 million to invest in startups over the next five years -Feb. 9, 2021
Ag Startup Engine announces two $50,000 investments -March 1, 2021