Funding round
Farmers Business Network Series C
Farmers Business Network, which works in farmer marketplace retail in San Francisco, raised $40M in a Series C round announced on 7 Mar 2017, led by GV and DBL Partners. 7 firms took part, 4 of them already investors. It is Farmers Business Network's third venture round on record; the one before was a Series B in Aug 2016.
$40M
Amount raised
Not disclosed
Post-money valuation
7
Investors
2 leads
Valuation
What this round says about the price
Farmers Business Network did not disclose a valuation in this round. It came 7 months after Farmers Business Network's Series B. It is 4.2% of the $951M Farmers Business Network has raised in the venture rounds on record. Farmers Business Network raised again 8 months later: a Series D round of $110M in Nov 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 9 Aug 2016, led by Acre Venture Partners $20M
- Series C this round 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
GV and DBL Partners led the round with 5 other firms. GV, DBL Partners, Acre Venture Partners and Kleiner Perkins had backed Farmers Business Network before.
Lead investors
- GV backs 428 venture-backed companies existing investor
- backs 24 venture-backed companies existing investor
Also in the round
- backs 22 venture-backed companies new investor
- backs 16 venture-backed companies existing investor
- Kleiner Perkins backs 285 venture-backed companies existing investor
- Energy Impact Partners backs 99 venture-backed companies new investor
- Foundation Capital backs 144 venture-backed companies new 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: 1 in Farms & Agriculture Production, then Series C rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Farms & Agriculture Production | 21 Sep 2016 | $30M | not disclosed | Catalyst Investors |
| Device Manufacturing | 9 Mar 2017 | $89M | not disclosed | Technology Crossover Ventures |
| DataRobot Tech Companies | 23 Mar 2017 | $54M | not disclosed | New Enterprise Associates |
| Medical Supply Manufacturers | 16 Mar 2017 | $50M | not disclosed | Advent Life Sciences and Future Fund |
| Toss Business Payment Processing & Point of Sale | 9 Mar 2017 | $48M | not disclosed | Goodwater Capital |
| MasterClass Learning, Tutoring & Courses | 28 Mar 2017 | $35M | not disclosed | Institutional Venture Partners |
| Monzo Banks & ATMs | 29 Mar 2017 | $27M | $133M | not named |
| Pharmaceutical Products | 30 Mar 2017 | $26M | not disclosed | OrbiMed and F-Prime Capital |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Farmers Business Network raise in its Series C round?
Farmers Business Network raised $40M in its Series C round, announced in Mar 2017.
Who led Farmers Business Network's Series C round?
GV and DBL Partners led it, with Bow Capital, Acre Venture Partners, Kleiner Perkins, Energy Impact Partners and Foundation Capital.
What was Farmers Business Network's valuation at the Series C round?
It was not disclosed.
Did Farmers Business Network raise again after this round?
Yes: a Series D round in Nov 2017 of $110M.