HALIFAX, NOVA SCOTIA – Canadian software developer Milk Moovement announced its recently closed Series A round drummed up $20 million.
The company, which makes cloud-based dairy supply chain software, revealed the funding round led by VMG Catalyst will help it accelerate product development and make it possible for more dairy businesses in North America to use the software.
Milk Moovement describes its platform as capable of helping facilitate a digital transformation for dairy companies by creating supply chain visibility for both dairy farmers and distribution partners along the supply chain. Route shipments can be tracked in real time on mobile devices, and the system is designed to optimize delivery schedules for perishable products, decreasing food waste and lost profits.
"We constantly seek out the best and brightest talent to join us as we build market-leading products and partner with dairy industry leaders," said Robert Forsythe, chief executive officer and co-founder of the company. "This latest round of funding is a major win for our employees and investors, but most importantly it allows us to support our incredible partners in getting the right milk to the right place at the right time."
Additionally, hygiene and infection prevention company Ecolab made a minority equity investment in Milk Moovement.
At this time, Milk Moovement shared that its network already includes 2,500 dairy farms and more than 5,000 users. Per its data, the company manages more than 30 billion pounds of raw milk every year. It noted that some of its first partners included United Dairymen of Arizona and California Dairies Inc.
Jafar Shahwan, California Dairies’ vice president of supply chain, said using the software “unlocked our imagination” for how dairy supply chains should function.
“I am a true fan of the solution and the capabilities it brings to the industry,” Shahwan said. “The software brings all stakeholders together in real time, which allows for clarity and visibility on key elements of our operations. Milk Moovement is a true partner to California Dairies and has changed the way business is managed, decisions are made and communication flows."
Established in 2018, Milk Moovement has 50 employees, and serves clients in Canada, the US and Australia.