AMES, Iowa, July 27, 2021 – Ag Startup Engine, in the Iowa State University (ISU) Research Park, has announced an initial investment in Ames, Iowa-based Farmers Risk. Farmers Risk’s mission is to democratize the tools available to help farmers manage risk and create more predictable revenue on the farm.
“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. “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 believes Farmers Risk is a valuable addition to its portfolio of startups. “Application of software and data science to commodity price risk management is a tremendous opportunity,” commented Kevin Kimle, Ag Startup Engine co-director. "A next-generation set of tools is needed by agriculture, and we look forward to Dakota and the team at Farmers Risk launching those tools.”
In order to help farmers reimagine their risk management strategies, Farmers Risk 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.
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. If you are interested in being a part of the beta, sign up for the waitlist online at farmersrisk.ag.
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.
Visit www.agstartupengine.com for more information.