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November 16, 2018
Performance Livestock Analytics Inc. (PLA), provider of livestock farm management software and analytics tools, announced Nov. 12 a Series B financing round of $2.25 million.
PLA said the financing will enable it to extend its animal nutrition and feed optimization technologies into animal health applications and individual animal traceability and to continue its expansion into international markets.
The round was led by new PLA board director Erik Torgerson, who brings finance and agriculture industry experience to PLA. Torgerson is an active private investor who currently serves as chairman of the board at Conservis Corp. and Sentera Inc. and as a director at Ascus Biosciences Inc.
“The PLA team has made tremendous progress since their cloud-based service was launched just 20 months ago,” Torgerson said. “We see an opportunity to build a very large and valuable software company in the livestock vertical that brings powerful analytics and commerce tools to producers, making their businesses more profitable and their lives easier. PLA has great traction with the industry’s largest, most sophisticated buyers.”
PLA said its Performance Beef is a cloud-based business operating system for the livestock industry that makes it easy for producers to capture and analyze feed and veterinary information, helping them operate more efficiently and maximize profitability. Performance Beef provides simple, easy-to-use hosted applications that integrate easily with livestock producers’ existing equipment and allow producers to manage financial, operational and performance data generated by their cattle operations, the company explained.
In September, PLA said its Performance Beef platform had surpassed 1 million head of cattle under management.
“We are encouraged with the rapid acceptance of the Performance Beef platform by the livestock community” PLA chief executive officer Dane Kuper said at the time. “One million head of cattle represents nearly 10% of the overall feeder cattle market, an important and exciting milestone for our fast-growing company.”
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