FARGO — Jake Joraanstad, CEO and co-founder of Fargo app maker Myriad Mobile, announced at the Wednesday, June 26, gathering of 1 Million Cups here that the company was changing its name to Solutions by Bushel, a name reflective, Joraanstad said, of how important the agriculture sector has become to the company's bottom line.
Bushel was the name given to a mobile app platform Myriad launched in 2017 that allows elevators and cooperatives to connect with their growers and to share real-time information about the farm sector.
Joraanstad said the decision to fold Myriad Mobile into Bushel was the result of a narrowing of focus by the company that occurred in stages since its inception in 2011.
He said it was spurred by the realization that agriculture is the least digitized major industry left in the United States and that opportunities abound in the sector.
Joraanstad describes Bushel as a secure, cloud-based platform that enables farmers to connect directly with elevators to receive bids, track contracts, monitor markets and check pre-paid accounts.
He said elevators are the company's customers, while farmers are able to use the app for free.
Joraanstad said Bushel, which now has about 130 employees, is looking to continue its growth and part of that will involve an effort to secure $15 million in additional funding from investors.
The weekly 1 Million Cups get-together in downtown Fargo is often used by local entrepreneurs as a venue to spread the word about major developments in business.
After Joraanstad's announcement, he and Ryan Raguse, Bushel's chairman and co-founder, talked at length about how the company has refined its market focus over the past eight years, with Raguse describing Bushel as a startup within a startup.
Joraanstad said that in hindsight the evolution would have happened sooner had they realized the benefits of narrowing what the company focuses its energy on, stating there was almost no risk for a company to focus as quickly as it can on what provides the greatest return.
Raguse said Bushel is already in Canada and the company sees opportunities in other parts of the world as well, including Brazil and Australia.
Joraanstad said he and Raguse didn't build the company on their own and he added that it wouldn't be where it is today without its employees, many of whom are long timers, according to Joraanstad.
"Very few people have left the team," he said.