PickTrace Company Profile

Background

Founded in 2013 by brothers Austin and Harrison Steed, PickTrace is a rapidly growing software company specializing in workforce and harvest management solutions for large-scale farms. Originating from their family's citrus, blueberry, and avocado farm, the Steed brothers identified significant inefficiencies in agricultural labor management and developed PickTrace to address these challenges. The company's mission is to revolutionize the agriculture industry by providing a comprehensive farm management system that enhances operational efficiency and compliance. PickTrace's software delivers real-time insights, enabling growers to optimize their operations and navigate the complexities of modern agriculture.

Key Strategic Focus

PickTrace's strategic focus centers on delivering an all-in-one labor management suite tailored for the agriculture sector. The company's core objectives include:

Streamlining Hiring Processes: Implementing paperless onboarding to expedite employee hiring and re-hiring.

Enhancing Labor Tracking: Providing real-time monitoring of time and productivity to ensure payroll compliance.

Simplifying Payroll Management: Offering efficient payment solutions to reduce administrative burdens.

By integrating these functionalities, PickTrace aims to assist growers in managing labor costs, maintaining compliance with wage and hour regulations, and improving overall operational efficiency.

Financials and Funding

Since its inception, PickTrace has secured multiple funding rounds to support its growth and product development:

Series B Funding (January 2022): Raised $33 million to enhance product offerings and expand market reach.

Series A Funding (October 2018): Secured funding to scale operations and refine product-market fit.

Y Combinator Accelerator (August 2015): Received $120,000 as part of the accelerator program.

Notable investors include Partners Fund Capital, Bodley Group, FundersClub, and Y Combinator. The capital raised has been strategically utilized to develop innovative solutions, expand the team, and strengthen customer relationships.

Technological Platform and Innovation

PickTrace distinguishes itself through its proprietary technologies and innovative methodologies:

Paperless Onboarding: Digitizes the hiring process, reducing the time to hire a new employee from over 30 minutes to approximately 90 seconds.

Real-Time Labor Tracking: Utilizes mobile technology to monitor time and productivity, providing immediate insights into workforce performance.

Compliance Engine: Automates payroll calculations, including piece-paid breaks, non-productive time, overtime, and double time, ensuring adherence to federal, state, and local wage regulations.

PickTrace PayCard: Offers a streamlined payment solution integrated into the hiring workflow, eliminating the need for paper checks and facilitating efficient employee payments.

These innovations collectively enhance operational efficiency, compliance, and decision-making capabilities for agricultural enterprises.

Leadership Team

PickTrace's leadership comprises experienced professionals dedicated to advancing the company's mission:

Joel Zemer: Chief Executive Officer

Harrison Steed: Co-Founder & President

Damon Valenzona: Chief Technology Officer

Austin Steed: Co-Founder & Board Member

Greg Moore: Director of Product

Kalyn Wilke: Director of Customer Experience

This team brings a wealth of experience in technology, agriculture, and business development, driving PickTrace's growth and innovation.

Competitor Profile

Market Insights and Dynamics

The agricultural labor management software market is experiencing significant growth, driven by the increasing need for efficiency, compliance, and data-driven decision-making in farming operations. Technological advancements and regulatory pressures are prompting growers to adopt digital solutions for workforce management.

Competitor Analysis

Key competitors in the agricultural labor management space include:

iFoodDS: Provides food safety and quality management solutions, focusing on traceability and compliance.

Agworld: Offers farm management software emphasizing planning, budgeting, and agronomic insights.

TallySoft: Specializes in point-of-sale and inventory management systems for the agricultural sector.

While these companies offer various agricultural solutions, PickTrace's comprehensive focus on labor management, from hiring to payment, sets it apart in the market.

Strategic Collaborations and Partnerships

PickTrace has established significant partnerships to enhance its service offerings:

Intermex Partnership (March 2024): Collaborated with Intermex, a leading money transfer service provider, to facilitate remittances for agricultural workers in the U.S., expanding financial services for employees.

These collaborations strengthen PickTrace's market position and broaden its capabilities to serve the agricultural community effectively.

Operational Insights

PickTrace's strategic considerations include:

Market Position: As the only all-in-one labor management suite for agriculture, PickTrace offers a unique value proposition by integrating hiring, tracking, and payment processes.

Competitive Advantages: The company's deep understanding of agricultural operations, combined with its technological innovations, provides a significant edge over competitors.

Customer-Centric Approach: By focusing on solving real business challenges for growers, PickTrace has achieved high customer satisfaction and loyalty.