Funding round
Farmers Business Network Series B
Farmers Business Network, which works in farmer marketplace retail in San Francisco, raised $20M in a Series B round announced on 9 Aug 2016, led by Acre Venture Partners. 7 firms took part, 3 of them already investors. It is Farmers Business Network's second venture round on record; the one before was a Series A in Apr 2014.
$20M
Amount raised
Not disclosed
Post-money valuation
7
Investors
1 lead
Valuation
What this round says about the price
Farmers Business Network did not disclose a valuation in this round. It came 28 months after Farmers Business Network's Series A. It is 2.1% of the $951M Farmers Business Network has raised in the venture rounds on record. Farmers Business Network raised again 7 months later: a Series C round of $40M in Mar 2017. Its next priced round, a Series G in Nov 2021, valued it at $4.00B.
Farmers Business Network's funding rounds
Farmers Business Network has 8 venture rounds on record. This one is highlighted.
- Series A 1 Apr 2014 $5.6M
- Series B this round 9 Aug 2016, led by Acre Venture Partners $20M
- Series C 7 Mar 2017, led by GV and DBL Partners $40M
- Series D 30 Nov 2017, led by T. Rowe Price and Temasek $110M
- Series E 1 Jan 2019 $175M
- Series F 3 Aug 2020, led by BlackRock $250M
- Series G 19 Nov 2021, led by Fidelity Management & Research Company $300M$4.00B post-money
- Growth 28 Jul 2025 $50M
Investors
Who put money in
Acre Venture Partners led the round with 6 other firms. DBL Partners, GV and Kleiner Perkins had backed Farmers Business Network before.
Lead investor
- backs 16 venture-backed companies new investor
Also in the round
- backs 22 venture-backed companies new investor
- backs 24 venture-backed companies existing investor
- Energy Impact Partners backs 99 venture-backed companies new investor
- Foundation Capital backs 144 venture-backed companies new investor
- GV backs 428 venture-backed companies existing investor
- Kleiner Perkins backs 285 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Series B rounds in Farms & Agriculture Production:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Farms & Agriculture Production | 7 Mar 2017 | $10M | not disclosed | Accel |
| Farms & Agriculture Production | 10 Dec 2015 | $20M | not disclosed | Wheatsheaf Group |
| Plenty Farms & Agriculture Production | 19 Jul 2017 | $200M | $700M | SoftBank |
| Farms & Agriculture Production | 9 Aug 2017 | $10M | not disclosed | Global Innovation Fund |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Farmers Business Network raise in its Series B round?
Farmers Business Network raised $20M in its Series B round, announced in Aug 2016.
Who led Farmers Business Network's Series B round?
Acre Venture Partners led it, with Bow Capital, DBL Partners, Energy Impact Partners, Foundation Capital and GV and 1 more.
What was Farmers Business Network's valuation at the Series B round?
It was not disclosed.
Did Farmers Business Network raise again after this round?
Yes: a Series C round in Mar 2017 of $40M.