# Vence

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

- Industry: Agribusiness
- Headquarters: San Diego, US
- Website: www.vence.io
- Total disclosed funding: $20M
- Latest round: Series A (Feb 26, 2022)
- Investors on record: 8

## About

Vence Corp. specializes in innovative livestock management solutions, particularly through its virtual fencing technology designed for cattle, enabling efficient grazing control and enhanced animal monitoring.Founded in 2016, Vence Corp. is headquartered in San Diego, US, focusing on developing advanced livestock management systems. The company has successfully raised a total of USD 7.60 mn through various funding rounds, with its latest being a Series A round of USD 7.60 mn. Notable investors include Merck Animal Health Ventures and Shell Ventures. The leadership team includes Sky Kurtz as the founder and Frank Wooten serving as CEO.Merck Animal Health, through its innovative product line, primarily offers a virtual fencing livestock management system known as Vence, designed specifically for cattle. This system allows ranchers to control cattle movement, manage grazing, and create virtual fences that dictate grazing behavior while also monitoring animal location and movement. The core functionality includes placing base stations that cover significant ranch areas (5,000-10,000 acres), fitting cattle with GPS-enabled collars that track their positions, and utilizing a HerdManager system to easily set and adjust grazing boundaries. The end users of this technology include cattle ranchers and livestock management professionals who seek to enhance production efficiency, improve land health, and maintain environmental sustainability. The Vence system has been deployed in various geographical markets, including North America, where ranching operations are prevalent.Merck Animal Health generates revenue through the sale of its flagship product, the Vence system, which operates on a direct-to-consumer model targeting cattle ranchers and livestock managers. Customers typically engage with the company by purchasing the complete virtual fencing system, which includes base stations and CattleRider collars, along with potential ongoing support and service agreements. The transaction structure encompasses both upfront costs for equipment and possibly recurring fees for software services related to the HerdManager system. Revenue is further supported by partnerships and collaborations with agricultural and environmental organizations, enhancing the value proposition of the Vence system in promoting sustainable grazing practices.Vence Corp. plans to leverage its recent funding from Silverstrand Capital to enhance its virtual fencing technology and explore the development of new products. The company aims to expand its market presence in North America and other agricultural regions by 2024, focusing on increasing adoption among cattle ranchers. This strategic growth is aligned with their objective of promoting efficient and sustainable livestock management practices.

## Funding rounds

- Series A, Feb 26, 2022, $7.6M — Shell Ventures, Merck Animal Health Ventures
- Series A, Apr 28, 2021, $12M — JMI Equity, Rabobank, Eniac Ventures, Tyche Partners, Trailhead Capital, Neglected Climate Opportunities

## Investors

- JMI Equity (https://capitalatlas.ai/funds/jmi-equity) — Series A
- Rabobank — Series A
- Eniac Ventures (https://capitalatlas.ai/funds/eniac-ventures) — Series A
- Tyche Partners (https://capitalatlas.ai/funds/tyche-partners) — Series A
- Trailhead Capital (https://capitalatlas.ai/funds/trailhead-capital) — Series A
- Neglected Climate Opportunities (https://capitalatlas.ai/funds/neglected-climate-opportunities) — Series A
- Shell Ventures (https://capitalatlas.ai/funds/shell-ventures) — Series A
- Merck Animal Health Ventures (https://capitalatlas.ai/funds/merck-animal-health-ventures) — Series A