Milk Moovement, a cloud-based dairy supply chain software company, has received $20 million USD in support of their platform.
The Series A round closing was led by VMG Catalyst — the venture capital firm that invests in technology powering the next generation of retail and consumer business —will help accelerate product development and adoption of the Milk Moovement platform across North America.
Milk Moovement’s technology platform brings the industry from pen-to-paper and legacy systems to the cloud — creating full supply chain visibility for dairy farmers and their distribution partners to track and route shipments in real-time, optimize delivery schedules, and ultimately create a significant decrease in food waste and loss of profits.
Robert Forsythe, CEO and co-founder of Milk Moovement, says they “Constantly seek out the best and brightest talent to join as [they] build market-leading products and partner with dairy industry leaders.”
“This latest round of funding is a major win for our employees and investors,” he continues, “but most importantly, it allows us to support our incredible partners in getting the right milk to the right place at the right time.”
Richard Cargill, seed investor and agriculture industry leader, is also participating in the company’s Series A.
“It’s an honour to be a part of Milk Moovement as they provide something truly unique for the industry. The team has been exceeding expectations in their rollout to empower new customers with much-needed data and the company is just getting started. I am looking forward to the acceleration of creating distinctive customer value this new investment will enable,” says Cargill.
Milk Moovement currently has a network of 2,500 dairy farms and over 5,000 users. The company manages over 30 billion pounds of raw milk per year, which equate to about 15 per cent of the U.S. dairy market.