Farmers Business Network (FBN), a leading agricultural marketplace, has secured $50 million in new funding to expand its platform and enhance its product offerings, particularly in the area of AI. This investment comes from notable backers like GV (Google Ventures), Temasek, and T. Rowe Price.
FBN’s farmer network now includes over 117,000 farms across 187 million acres in the U.S. and Canada. The platform offers more than 7,200 products and delivers most orders within 24 to 72 hours. Recent surveys show that 35% of farmers shop with FBN, with online input purchases up 86% from last year.
To enhance its digital capabilities, FBN has introduced “Norm,” a Large Language Model (LLM) designed for agronomy and crop marketing inquiries, with plans for future personalized support in various areas. The company is also expanding its private label products and allowing third-party sellers to reach FBN members directly.
Key expanded product portfolio features include:
- More Private Label and Third-Party Crop Protection Products: Enhanced offerings in crop protection, biologicals, and nutrition for major commodity crops, featuring FBN’s brands and enabling more third-party sellers.
- Canadian Growth: FBN Canada has expanded its wheat crop protection portfolio, added bulk liquid fertilizer and equipment financing, and plans to open two new distribution centers in 2026.
- New Seed Platform: The marketplace is now open for third-party seed offers, including brands like Seitec Genetics, which offers products for corn, soybeans, sorghum, alfalfa, and cover crops.
- Expanding Livestock: The livestock marketplace will continue to grow with new products, including feed from Ridley and Sweetlix, fencing, and a wider assortment of farm and ranch supplies.
KEY QUOTES:
“Our commitment to putting farmers first means a relentless focus on efficiency and convenience. Our goal is to reduce a farm’s operating costs 20% or more compared to brick-and-mortar retail. We’re working to maximize grower savings and ensure every dollar they spend goes as far as possible.”
“Artificial Intelligence is enabling us to provide our farmer members with more personalized and relevant insights. Simultaneously, it offers new tools to automate our marketplace operations, reducing costs and improving the customer experience.”
Diego Casanello, CEO of FBN
