Kansas City ag tech firm FarmLink to split into two businesses

FarmLink, a fast-growing Kansas City company that specializes in agriculture technology, announced Thursday that it will split into two distinct businesses.

One business, which will retain the FarmLink name, will focus on data analytics for agriculture. The other, which will be called MachineryLink Solutions, will specialize in equipment sharing for farmers.

The announcement follows less than a month after news that FarmLink closed a $24.6 million round of funding, bringing total capital raised since August 2014 to more than $64 million.

Ron LeMay, former Sprint president and COO, will continue to serve as chairman and CEO of both FarmLink and MachineryLink, according to a press release.

“As we talked with investors, partners and customers, it became clear that our two business segments could continue to grow faster as independent entities,” LeMay said in the release.

The business that is now MachineryLink started more than a decade ago as an equipment leasing company, but it has evolved into an online equipment sharing service.

Existing shares will be split between the two companies, the company said in the release.

Tags:, ,

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students