AcreTrader, a Fayetteville, AR-based buy and sell land technology provider, raised $20M in Series B funding.
The round was led by Drive Capital.
The company intends to use the funds to continue to scale its team and finalize its platform.
Led by CEO Carter Malloy, Chief Marketing Officer, Elizabeth Slape, and Vice President of Human Resources Morgan Scholz, AcreTrader provides a mapping and analytics platform that gives farmers, landowners, and investors insights and information on the value of land, and empowers customers to buy and sell land through advanced technology, data, and expertise.
The company also announced the launch of its land brokerage platform AcrePro, which makes it easier for agents, buyers, and sellers to assess, sell, and purchase land, and will soon launch a geospatial analytics platform.
Over the past year, AcreTrader has experienced expansion with revenues grown over 5x, the customer base tripled, and the amount of land going live on its platform more than doubled.