BinSentry, a company dedicated to enhancing efficiencies and sustainability in the $500 billion global animal feed supply chain, has successfully secured $15 million in new capital. The funding, obtained through a Series B round led by Spring Mountain Capital, also includes additional debt financing, marking a significant milestone in BinSentry’s journey toward market dominance.
The company has made remarkable strides in integrating data analytics and artificial intelligence (AI) to manage large supply chains and reduce costs—an increasingly critical focus within the agricultural sector. With cutting-edge IoT sensors delivering over 98% accuracy in feed inventory monitoring, BinSentry’s AI-powered software platform provides alerts and suggestions that translate into substantial cost savings and valuable insights for feed mills and animal producers.
Spring Mountain Capital’s investment signifies BinSentry’s growing maturity and commercial traction. Jamie Weston, a partner at Spring Mountain Capital, expressed enthusiasm about the company’s achievements, stating, “We have been incredibly impressed with what BinSentry has built over the last five years, led by Ben Allen. Bringing digital transformation to the agricultural industry will not only unlock cost savings, efficiencies, and insights, but also serve to improve animal health. The capital that we have provided will help the company continue to accelerate growth and extend their product portfolio.”
In tandem with securing new funding, BinSentry has surpassed a critical market penetration milestone, now monitoring over 20,000 assets daily. The company is adding an average of 1,500 new assets to its monitoring service each month, significantly outpacing competitors in the industry.
Ben Allen, CEO of BinSentry, emphasized the impact of their solutions, stating, “Our customers represent some of the largest agricultural companies in the world. Supporting their efforts to cut costs, improve employee safety, and enhance sustainability is a mission that we take seriously every day. With so many assets monitored daily, we can provide our customers with unique insights that immediately impact their profitability.”
A noteworthy insight from BinSentry’s extensive data set is the discovery that out-of-feed events, often caused by feed bin slide management—a manual task performed daily at animal barns—account for over 70% of all out-of-feed issues. Addressing these challenges has become a focal point for BinSentry and its customers.
Mauricio Diaz, President of HANOR, the 14th largest pork producer in the United States, highlighted the importance of BinSentry’s technology: “Feed conversion ratios are one of the most important metrics for animal producers. Being able to see and address all feed issues is a key component to lowering feed conversion ratios, which lowers costs and increases sustainability.”
About BinSentry:
BinSentry is a leader in agricultural supply chain solutions, leveraging AI and IoT technology to enhance efficiency, reduce costs, and improve profitability. Their platform offers real-time monitoring of over 20,000 bins across North America, enabling feed mills and protein producers to optimize feed ordering, raise healthier animals, improve safety, and reduce their environmental footprint.
For more information, visit www.binsentry.com.
About Spring Mountain Capital:
Spring Mountain Capital is an investment management firm specializing in alternative asset investing. Their growth equity team focuses on providing expansion capital to companies at the forefront of innovation and market shifts, particularly in enterprise technology and healthcare sectors.
For more information, visit smcgrowthcapital.com.
