Agricultural commodities hedging platform Stable landed a $60 million Series B funding round.
The round was led by Acrew and saw participation from Greycroft, Notion Capital, Syngenta and Continental Grain Company. Acrew’s Vishal Lugani will also join Stable’s board.
Stable, the self-proclaimed “hedging house” for the $5 trillion agricultural commodity industry, bills itself as a way for companies to “hedge against commodity price volatility.”
Founded in 2017 in Somerset, UK, Stable now lists over 500 non-traded commodities that can be hedged on the platform. Its customers range from multinational food and beverage companies to family farms across the Americas.
Stable will use Series B cash to invest in new products, including a financial news aggregator and risk management solution.
Stable CEO Rich Counsell said: “Hedging is considered complex and risky for most business owners, but the benefits of bringing stability and predictability to an income statement shouldn’t be reserved for multinationals. giants and sophisticated traders.”
Stable now operates in the United States, Europe and Asia, employing more than 60 commodity experts, quants and data scientists.