# CoverCress

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/covercress

- Industry: Agribusiness
- Headquarters: St. Louis, US
- Website: www.covercress.com
- Total disclosed funding: $29M
- Latest round: Series C (Apr 26, 2022)
- Investors on record: 12

## About

CoverCress Inc. is an agricultural company specializing in sustainable farming solutions, providing innovative crops that enhance profitability and environmental stewardship for farmers.Founded in 2013 and headquartered in St. Louis, US, CoverCress Inc. focuses on developing CoverCress®, a winter oilseed crop that adds diversity to cash crop rotations. The company has undergone strategic developments, culminating in a recent investment by Bayer AG, which acquired a 65% majority stake in August 2022. The firm has successfully raised a total of USD 26.00 mn in funding through a Series C round with investments from Bunge Ventures and Chevron Technology Ventures. The current valuation of the company stands at USD 117.602 mn. Leaders of the company include CEOs Jerry Steiner and Michael DeCamp.CoverCress Inc. (CCI) specializes in innovative agricultural solutions centered around its flagship product, CoverCress®, a winter crop designed to enhance farm profitability and sustainability. This oilseed crop allows farmers to diversify their cash crop rotations by providing a third cash crop within a two-year period, effectively turning idle winter fields into productive assets. The product addresses key agricultural challenges such as soil erosion, nutrient loss, and underutilization of land during winter months. CoverCress® not only aims to improve soil health but also enables participation in carbon capture programs, appealing to farmers who prioritize long-term land stewardship. CCI's offerings are actively marketed to farmers primarily across the Midwest United States, promoting a transformation in agricultural practices that align with both economic and environmental goals.CoverCress Inc. generates revenue through structured agreements with farmers, who plant the CoverCress® crop under guaranteed market contracts facilitated by CCI's offtake agreements. This approach simplifies the profitability for farmers by eliminating upfront costs and providing a reliable end-market for the harvested grain. The transactions typically involve a B2B model where CCI collaborates directly with farmers and end-users such as biofuel customers and animal feed additive producers. Farmers receive support throughout the cropping process, from seeding to harvest, and logistics partners manage grain pickup, ensuring a seamless operation. Revenue is derived from the sale of CoverCress® grain, which is processed and sold to various industries, including renewable biofuels, thereby creating a consistent revenue stream for the company.CoverCress Inc. aims to expand its market presence and product offerings significantly in the coming years. The company is actively designing new agricultural products to cater to evolving market needs, although specific release dates have not been disclosed. Geographically, CCI plans to penetrate additional regions within the Midwest and explore opportunities in the broader US market by 2024. The recent funding from the Series C round will facilitate these expansion efforts, supporting product development and market entry initiatives.

## Funding rounds

- Series C, Apr 26, 2022, $26M — Chevron Technology Ventures, Bunge Ventures
- Series A, May 7, 2015, $2.5M — Prolog Ventures, Black Creek Group Mexico, Prelude Ventures, BioGenerator, Missouri Technology Corporation, Cultivation Capital, St. Louis Arch Angels, Helix Fund, Monsanto Growth Ventures, The Yield Lab

## Investors

- Prolog Ventures (https://capitalatlas.ai/funds/prolog-ventures) — Series A
- Black Creek Group Mexico (https://capitalatlas.ai/funds/black-creek-group-mexico) — Series A
- Prelude Ventures — Series A
- BioGenerator (https://capitalatlas.ai/funds/biogenerator) — Series A
- Missouri Technology Corporation — Series A
- Cultivation Capital (https://capitalatlas.ai/funds/cultivation-capital) — Series A
- St. Louis Arch Angels — Series A
- Helix Fund — Series A
- Monsanto Growth Ventures (https://capitalatlas.ai/funds/monsanto-growth-ventures) — Series A
- The Yield Lab (https://capitalatlas.ai/funds/the-yield-lab) — Series A
- Chevron Technology Ventures (https://capitalatlas.ai/funds/chevron-technology-ventures) — Series C
- Bunge Ventures — Series C