Auburn Ag Tech Startup Secures $3 Million In Funding

Photo Courtesy: Inside INdiana Business

AUBURN, Ind. (WOWO):  An Auburn-based agriculture Software-as-a-Service company has closed on a $3 million seed round of funding.  Traction Ag Inc., which has developed a cloud-based financial management platform for farmers, says it will use the funding to further develop the platform and add to its engineering and customer service teams.

Don Aquilano, managing partner of participating investor Allos Ventures, tells Inside INdiana Business the Traction Ag platform fills a gap for farmers.  “There’s a lot of aspects of accounting, finance and operations management that are very specialized for farming, and frankly, the vast majority of farmers are still stuck with either localized, non-cloud-based solutions, or they’re still trying to do it with Quickbooks,” said Aquilano. “It’s a platform that has been built for this customer set and the customer reviews have been great.”

Traction Ag says the platform brings all farm-specific accounting capabilities into a fully-digital suite that includes filing and paying farmers’ federal and state payroll taxes automatically.

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