Trev is an industry leading farm reporting tool, helping farmers deliver better productivity, profitability and sustainability outcomes.
Adopting a SaaS business model, the company spent 5 years in prototype before commercially launching in 2018. Since then, it has grown subscription revenue at 40% CAGR and is now used by nearly 1000 farms.
Trev has been built as a farmer-centric tool to make data capture and decision making quick and easy. The farmer is guided through a weekly reporting framework that takes less than 10 minutes to complete. Much like management accounting software, Trev solves the equivalent challenge for operational farm reporting.
By using Trev, the farmer is able to collect data and pair this with industry sources to create productivity, sustainability and profitability insights. The nature of Trev allows upstream and downstream stakeholders to be looped into the conversation and view farm performance from a distance which is becoming increasingly attractive to processors, consumers, corporates, financiers and governments as all look toward Scope 3 targets and green lending.
Agriculture is the backbone of the New Zealand economy, with approximately 50,000 farms covering 13.6m hectares and contributing over $13bn to NZ’s GDP. Initially focused on dairy, Trev is now expanding into the red meat market as a result of customer demand, product development and the recent acquisition of competitor, Cloud Farmer.
“You often hear the saying that the difference between a good farmer and an average farmer is a week. What that week means is information; so to be able to make decisions a week earlier you’ve actually got to have information and data to do so. That’s where the information out of Trev is so great because you get to clearly see how you’re tracking.” - Sam Waugh, Farm Manager, Donald’s Farm
With an influential customer base that features leading farmers and businesses across the primary industry, Trev has the goal to become the go-to farm reporting and insights platform and is now raising $2.237m to accelerate its growth strategy. This includes increasing the number of farms using Trev, growing the ARR per farm by delivering further product value and leveraging distribution capability via new channel partnerships and integrations.
Trev has no obvious competitors in the farm reporting and insights field, with a large addressable market that has previously been underserved by technology products. Founded and led by a team with an unparalleled understanding of the challenges of operational reporting in New Zealand’s largest export industry, Trev is quickly becoming the reporting tool of choice for kiwi farmers.
As Trev cements its position in New Zealand, there is a significant longer term opportunity to expand internationally as well as capitalise on emerging technologies such as AI and machine learning to create further value from its unrivalled, structured database.