Plenty

Overview

Plenty is one of the most well known leaders in the vertical farming space, primarily due to the size of the company and amount of fundraising. The company was also one of the early entrants into the modern vertical farming scene, having been founded in 2014.

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Founders

Plenty was founded in South San Francisco, California in 2014 by Jack Oslan, Matt Barnard, Nate Mazonson, and Nate Storey.

Matt Barnard currently serves as the CEO of Plenty as well as a board member. His career spans multiple decades primarily focused on tech startups, finance, and private equity. Prior to Plenty, he held roles at Whalen and Company (President and COO), Search Fund Capital (Founder), 523 Capital (Managing Operating Partner), and SmartSynch (VP of Deployment).

Dr. Nate Storey currently serves as the CSO of Plenty. He was the founder and CEO of Bright Agrotech from 2010 to 2016, and holds a Ph.D. in Agronomy and Crop Science from the University of Wyoming.

Jack Oslan is a co-founder of Plenty, but as of 2018, has founded a new company, Diamond Age 3D.

Nate Mazonson is a co-founder of Plenty, but as of 2018, similarly to Jack Oslan, founded a new company Alara Imaging, based out of the Bay Area.

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Stock

As a private company, Plenty does not have a publicly available stock price. The company has raised over $500M USD in funding, and could be planning an IPO soon. Investors in Plenty include DCM Ventures, the Softbank Vision Fund, Finistere Ventures, and even corporate brands like Driscoll's Berries.

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Revenue

According to some estimates, Plenty's revenue may be as high as $96M USD. That being said, this estimate is likely far too large. The true revenue for Plenty is likely much lower. For example, public competitors such as AeroFarms have reported revenues as low as $4M. AeroFarms has about half the amount of funding as Plenty, and also has about half the amount employees as Plenty. This would suggest a revenue around the $8M range for Plenty.

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Locations

Plenty currently operates a farm in South San Francisco. This location signed a deal last year to supply over 50 Safeway stores in Northern California. Their second large location in Compton, CA will open at the very end of 2021. This facility will be over 95,000 square feet and will allow for fresh harvests 365 days per year. The ultimate goal of Plenty, according to co-founder Dr. Nate Storey, is to eventually build 500 vertical farms across the world.

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