John Deere acquired Harvest Profit, a farm profitability software startup based in Fargo, North Dakota.
"Harvest Profit software helps farmers forecast and measure profitability on a field-by-field basis," says Lane Arthur, vice president, data, application and analytics at John Deere. "This software will provide John Deere customers with a forward-looking financial lens, better visibility into their farms' profitability, and insights to help them make the best possible decisions managing their operations."
Farmers have continued to ask for tools to analyze their data and to better understand the financial outcomes of their decisions. To meet this need, Harvest Profit's software offering will be available through the John Deere Operations Center. The acquisition of Harvest Profit ensures current and prospective John Deere customers will have access to this analytical capability and provides them with continuity moving forward.
"Harvest Profit builds on the John Deere goal of providing cutting-edge technology solutions that empower our customers to make more informed decisions," Arthur says. "This software provides financial visibility for the customer of their operations enabling confident and proactive management decisions that make them more profitable and sustainable."
Founded in 2015, Harvest Profit is recognized for its deep understanding of agriculture, software development, and production costs and revenue data that drive field-level profitability.
Harvest Profit will retain its brand name. Financial terms of the agreement are not being made public.