Tillable closes $8.25 million in Series A venture funding

Tillable has raised $8.25 million in a February 21 deal led by The Production Board, with First Round Capital participating. The company intends to use the funds to hire and accelerate growth. The Chicago-based company was founded in 2017 by Corbett Kull, CEO. “Over 40 percent of all U.S. farmland is rented, and while landowners…


Tillable has raised $8.25 million in a February 21 deal led by The Production Board, with First Round Capital participating.

The company intends to use the funds to hire and accelerate growth. The Chicago-based company was founded in 2017 by Corbett Kull, CEO.

“Over 40 percent of all U.S. farmland is rented, and while landowners collect $32 billion in rent every year, it’s estimated that they leave $8 billion on the table due to underpriced rent,” said Kull in a press release. “But it’s not the landowners’ fault. The tools and data just haven’t been available to understand fair rental value for farmland or to aggregate demand among farmers, and this is especially true for the increasing number of landowners who do not live on or near their property. With Tillable, landowners and farmers both are in a much better position for long-term success.”

Landowners can leverage Tillable’s online marketplace to list, find farmers and use the platform’s market data to determine fair rent. The platform helps growers find land and negotiate leases reflecting market rent conditions. Farmers can search land to rent based on a selection of criteria including price, acreage, soil type and location. Farmers can build a profile, receive notifications for new rental listings, submit offers, sign a lease, and pay rent through the platform.

“Tillable’s goal fits well with ours: to improve the efficiency and economics of global food and agriculture markets,” said David Friedberg, Founder and CEO of The Production Board in a press release. “By applying sound economic principles and technology to an underserved market, Tillable is improving the information exchange between landowners and farmers, which will in turn help maximize both the value and responsible use of America’s farmland.”

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Visit www.tillable.com to learn more about this company.

This story is part of the AIM Archive

This story is part of the AIM Institute Archive on Silicon Prairie News. AIM gifted SPN to the Nebraska Journalism Trust in January 2023. Learn more about SPN’s origin »

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