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Traction Ag declares $3 Million Seed investment to additional develop cloud-based farm accounting and leadership software

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Traction Ag declares $3 Million Seed investment to additional develop cloud-based farm accounting and leadership software

Sep 20, 2022 (PRNewswire by the use of COMTEX) —
PR Newswire

INDIANAPOLIS, Sept. 20, 2022

INDIANAPOLIS, Sept. 20, 2022 /PRNewswire/ — Traction Ag Inc., the primary cloud-based farm leadership instrument that delivers monetary answers to growers around the midwest, nowadays introduced it has raised $3 million in Seed investment. The corporate will use this funding to deliver added capability and worth to its built-in farm accounting and operations software.

The investment spherical comprises participation from Hageman Team, Allos Ventures and Carry Ventures. As well as, Don Aquilano, co-founder and managing director of Allos Ventures, and Shane Hageman, president of Hageman Investments, will sign up for the Traction Ag Board of Administrators. The funding and enlargement of the board additional complements Traction Ag’s staff, with the corporate solidifying a renewed dedication to independence and concentrate on shoppers/stakeholders.

“The agriculture business is in the middle of an important shift in demographics,” stated Ian Harley, co-founder and CEO of Traction Ag Inc. “The brand new technology of farm leadership needs to be at the state of the art of manufacturing, and that calls for get right of entry to to real-time farm monetary research. As the one farm accounting and leadership resolution uniquely constructed for the cloud, we look ahead to offering endured toughen to growers navigating the brand new virtual ecosystem.”

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Traction Ag delivers probably the most intensive suite of farm-specific accounting functions in a cloud software, together with accounting, operations and an absolutely virtual payroll that robotically recordsdata and can pay the grower’s Federal and State payroll taxes.

“Farmers want an easy-to-use device that connects box operations to farm accounting to look correct box, crop, and overall farm profitability. 60% of farmers are the usage of accounting programs that are not agriculture particular or disconnected from box operations, due to this fact lacking those treasured farm leadership insights,” stated Shane Hageman, president of Hageman Team. “Traction Ag automates information assortment to save lots of time, fortify accuracy, and equip farmers with monetary gear to fortify their resolution making and peace of thoughts.”

“We view Traction Ag’s farm accounting resolution as a long-term funding for a generational exchange in agriculture,” stated Don Aquilano, co-founder and managing spouse at Allos Ventures. “As an employee- and farmer-owned corporate, Traction Ag is the one absolutely built-in, farm-specific resolution serving the desires of nowadays’s technology of revolutionary growers.”

Traction Ag will use this spherical of investment to swiftly develop its platform’s functions. Its buyer good fortune staff will even develop to proceed to supply very good carrier, which stays the most important pillar of the corporate’s general resolution.

To be told extra about Traction Ag, please consult with tractionag.com.

About Traction Ag

Traction Ag is the one farm leadership resolution uniquely constructed for the cloud, integrating precise accounting numbers with box operations, leading to real-time monetary research for well timed, knowledgeable decision-making. Traction Ag delivers probably the most intensive suite of farm-specific accounting functions in a cloud software and lets in customers to robotically and simply care for stock balances for plants and provides, offering an important insights and saving treasured time. The corporate is an employee- and farmer-owned industry and leverages integrations with Local weather FieldView and John Deere Operations Middle to automate and straightforwardness the selection of box actions.

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SOURCE Traction Ag

COMTEX_414865090/2454/2022-09-20T08:00:16

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The MarketWatch Information Division was once now not concerned within the advent of this content material.