Ranchbot, a remote water monitoring company for ranchers and farmers, has raised more than $15 million in Series B funding.
The round was led by Lewis & Clark Partners, with participation from Fulcrum Global Capital, Builders VC, The Cultiv8 Livestock Technology Fund, Lever VC, and Macdoch Ventures.
The company will use the funding to expand its U.S. team, improve its existing products, develop new technology, and build partnerships across the agricultural industry.
Ranchbot provides satellite-connected sensors that allow ranchers and farmers to remotely monitor water tanks, pipelines, troughs, rainfall, and other infrastructure. The system sends alerts when it detects problems such as low water levels or leaks.
By reducing the need for manual water checks, Ranchbot aims to help producers save fuel, reduce vehicle maintenance, lower labor costs, and protect livestock from water shortages.
The company says its customers have reported cutting fuel and vehicle maintenance costs by up to 30%.
As part of the funding, Ranchbot has also completed a corporate restructuring that established Ranchbot Technology Holdings Inc., a Delaware corporation, as its global parent company. The company’s global headquarters are now based in Fort Worth, Texas.
Founded in 2014 by Andrew Coppin, Ranchbot serves more than 12,000 customers managing about 10 million beef cattle and 15 million sheep across North America, Australia, and other markets.
“This investment means we can put more people on the ground here at home, keep improving our hardware and software, and give our customers even more value,” stated Andrew Coppin, Co-founder and Executive Chairman. “Together with our investors, we’re investing in the future of farming.”
