Ambrook Raises $26.1 Million to Enhance Farm Accounting Software

Ambrook, a startup specializing in accounting software for farmers and ranchers, has successfully raised $26.1 million in its Series A funding round. This investment is aimed at enhancing the company's software solutions, which are designed to address the unique complexities of agricultural businesses. The funding round was led by Thrive Capital and Figma’s Dylan Field, with participation from existing investor Homebrew. New investors in this round include BoxGroup, Designer Fund, Mischief, and Not Boring, bringing the company’s total funding to $29 million.

Ambrook was founded in 2021 with the specific goal of providing accounting software tailored to the needs of American agriculture and industry. The software fills a gap left by existing solutions like QuickBooks, which are not designed to handle the complexities of farming operations. Mackenzie Burnett, CEO and cofounder of Ambrook, highlighted that farms often deal with multiple revenue lines and vertical integration, making their financial management more intricate than that of typical small businesses.

Burnett, whose parents are plant health specialists at the USDA, explained that farming involves biological factors such as livestock that have a literal lifecycle—born, growing, and dying. This complexity is not adequately addressed by most existing software solutions, which are designed for different types of businesses. Ambrook’s software is built to manage these unique challenges, providing farmers with a more efficient and accurate way to track their inventory and financials.

The rise of Ambrook comes at a challenging time for American farming, which is trending towards fewer, larger, and more specialized farms. Jonathan Coppess, former administrator of the Department of Agriculture’s Farm Service Agency, noted that the industry is facing real uncertainty around technological advancements, political and geopolitical issues, and climate change. These factors make it difficult to predict future trends and manage risks effectively.

For Chase Crandall, a sixth-generation rancher in Wyoming, Ambrook’s software has been a game-changer. Crandall, who is tending to land originally settled by his ancestors in the 1850s, appreciates the software’s ability to save time and improve efficiency. “What Ambrook solves for me is time management,” said Crandall. “Everything’s live, and I don’t have to manually update anything. Our margins matter, because there’s so much you can’t control.”

The Crandall family’s approach to ranching includes generational planning, with the patriarch Calvin Crandall placing the land in a perpetual trust to ensure its viability across future generations. This strategic planning, combined with the use of advanced technology like Ambrook’s software, helps the family maintain a thriving business despite the challenges of the industry.