AcreTrader has raised $12 million in capital, which the company is planning to use to expand its online tools, operations and team of experts.
The Series A funding round for the Fayetteville startup was led by Jump Capital, with Narya Capital and Revolution’s Rise of the Rest Seed Fund participating. Existing investors RZC Investments and Revel Partners also participated in the funding round.
This is the second fundraising round that AcreTrader has raised in the past year. In April 2020, the company announced that it had raised more than $5 million in a seed funding round led by RZC Investments, which is led by Steuart and Tom Walton, and Revel Partners. This round was also focused to providing capital to expand AcreTrader’s operations, increase investment offerings and improve investor education.
The seed and Series A rounds brings AcreTrader’s fundraising amount to $18 million.
“Over the last few months, we’ve consistently seen our offering sizes grow while our funding windows shrink, showcasing the fast-growing desire surrounding this resilient asset class,” AcreTrader founder and CEO Carter Malloy said in a statement. “As a company that seeks to support and connect farmers and investors in a way that no one else is, we’re humbled by this monumental growth, and look forward to leveraging these new funds to continue on that trajectory.”
In addition to the Series A funding, AcreTrader is also expanding its board of directors. It is adding Jump Capital partner Peter Johnson and Kenny Traynom, the former chief operating officer of the Westchester Group and a found board member of Leading Harvest.
“Farmland investing is becoming increasingly sought after in the current macroeconomic environment,” Johnson said. “Jump Capital is proud to lead this investment to help accelerate AcreTrader’s growth and broaden access to this compelling asset class. I’m also looking forward to joining the company’s board of directors to help guide the company as it drives the charge to modernize farmland transactions.”
Since its founding in 2018, AcreTrader has steadily grown, making significant leaps in 2020. According to the company, it increased the total number of farmland investmetns through its platform by a factor of 12. It also increased its investor pool, which ranges across 48 states, by a factor of four.
AcreTrader has also doubled its employee count in the past year.