Dairy SaaS platform Milk Moovement inks $20m Series A deal

• Seed investor Richard Cargill is also participating in the round
• The capital infusion will be used to help accelerate product development and adoption of Milk Moovement among leading dairy businesses in North America
• Milk Moovement was founded in 2018 by Jon King and Robert Forsythe

Halifax-based Milk Moovement, a dairy supply chain software startup, has raised $20 million in Series A funding. VMG Catalyst led the round. Seed investor and agriculture industry leader Richard Cargill is also participating.

The capital infusion will be used to help accelerate product development and adoption of Milk Moovement among leading dairy businesses in North America.

“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 CEO and co-founder Robert Forsythe, in a statement. “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.”

Milk Moovement currently has a network of 2,500 dairy farms and over 5,000 users including global Fortune 100 CPG companies. The company manages over 30 billion pounds of raw milk each year, which equates to about 15 percent of the U.S. dairy market.

Concurrent to the completion of Series A financing, Ecolab, a provider of hygiene and infection prevention solutions, made a minority equity investment in Milk Moovement.

Milk Moovement previously secured $3.2 million in funding from lead investor Dynamo Ventures, alongside Bread & Butter Ventures, Matchstick Ventures, and SOSV.

The company was founded in 2018 by Jon King and Robert Forsythe. It currently employs 50 people across Canada and the United States.

VMG Catalyst invests in technology that supports consumer businesses.