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Jan. 20, 2023 Source: CommonGround news release Morton, Ill. - CommonGround (formerly known as CashRent) has raised $3 million in funding from leading ag tech venture capital firms and the top land brokerages and landowners in the United States. This funding positions CommonGround as the largest marketplace for renting, buying and selling rural land. The funding round was led by venture firm AgFunder with participation from land brokerages The Peoples Company, The LandGuys and Mossy Oak franchises, power users of the platform. The new funding allows CommonGround to continue to invest in their best-of-breed technology for landowners and land professionals alike while scaling its diverse team of top talent. "It's a testament to our product to have our customers participate in our funding round," said CommonGround Co-Founder, Noah Berkson. "We're focused on ensuring our customers can continue to thrive in an increasingly digital and competitive industry." Over the past year CommonGround has experienced significant growth. With revenue growing over 5x and land listings tripling on the platform, CommonGround is aiming to become the default platform for land transactions amongst landowners, farmers and land professionals. CommonGround allows landowners and brokers to quickly value their ground and put it up for sale or lease via traditional listings or online auctions. As part of this announcement, CommonGround is also revealing its new name to reflect its switch from purely facilitating cash rental agreements to offering a marketplace to rent, buy and sell tillable, recreational and hunting ground. They also offer tools for land professionals which was announced late in 2022. "We're very excited to announce the name change as it perfectly describes what we do in finding common ground between landowners, farmers, investors and land professionals alike," said CommonGround Co-Founder, Chris Baumann. Since its launch in 2019, CommonGround has transformed the land transaction industry. CommonGround utilizes proprietary technology to facilitate the price discovery, listing, leasing, selling and management of farm and recreational land. Farmland is a $3 trillion dollar industry that has historically lacked transparency. CommonGround is changing that. About CommonGround CommonGround is a fast-growing, data centric land acquisition platform committed to transparency and modernization of the land leasing and land sales industry. To learn more, visit CommonGround.io or email Help@CommonGround.io Tweet |
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