A California startup that's created an online marketplace for farmers is opening an office in Chicago as it looks to grow its agriculture tech firm across the Midwest.
Farmers Business Network is moving into a 43,000 square-foot space at 1320 W. Fulton Street in Fulton Market. The office is near the site of the last operating grain elevator in Chicago, which was owned by Archer Daniels Midland.
It's a fitting location for FBN, the company says, as it looks to usher in the next wave of agriculture innovation through its network that helps farmers connect with other famers to purchase products and get data to help make growing decisions. The startup has around 70 Chicago employees and is "growing rapidly," according to a company spokesperson.
Founded in 2014, FBN has raised more than $570 million in total funding, including a $250 million Series F round last year. Its investors include GV (the investment firm formerly known as Google Ventures), Kleiner Perkins, BlackRock, T. Rowe Price and Panera founder Ron Shaich.
The company says Chicago will be a "a major growth market" for the startup, which also has offices in Sioux Falls, South Dakota, and a corporate headquarters in San Carlos, California. FBN said it's also not ruling out expanding beyond this Chicago office lease in a few years.
FBN has more than 25,000 farmers on its platform across the U.S., Canada and Australia.
The startup's Chicago office adds to the booming Fulton Market district, which is also home to Google, Glassdoor, Tock and ag-tech firm Hazel Technologies.
