Vence has raised $15.0M in total across 2 funding rounds.
Vence's investors include 9Yards Capital, Kevin Hartz, Addition, Adverb Ventures, Airtree Ventures, Alven, Applied Ventures, Array Ventures, Avenir, Avid Ventures, Bain Capital Ventures, Bessemer Venture Partners.
Vence is a technology company that develops a virtual fencing system for livestock management, primarily targeting cattle ranchers. It uses AI-powered collars with GPS and RF transceivers to create invisible boundaries, enabling rotational grazing via smartphone apps or automation, which optimizes land use, reduces physical fencing costs, and promotes sustainability[1][2][3][4]. The system serves farmers and ranchers seeking efficient herd control, solving problems like labor-intensive fencing, overgrazing, soil erosion, and environmental damage by mimicking natural cattle movement for better forage, drought tolerance, and carbon sequestration[3][4]. Founded in 2016, Vence raised $18.33M before its acquisition by Merck Animal Health in September 2022, marking strong growth in agritech[1][2].
Vence originated in New Zealand when livestock producer Jasper Holdsworth, a finance school graduate frustrated with traditional rotational grazing challenges, sought a tech solution to existing virtual fencing research by Drs. Anderson and Rus, which was too costly at $300,000 per unit[3]. Holdsworth partnered with co-founder Frank Wooten to commercialize affordable collars using 21st-century tech like GPS and AI; they secured seed funding in 2017 and ran trials from 2018-2021[3]. Headquartered in San Diego, California, the company quickly gained traction in modernizing livestock practices, leading to its 2022 acquisition by Merck Animal Health to scale globally[1][3].
Vence rides the agritech wave intersecting AI, IoT, and precision livestock farming amid rising global demand for sustainable protein, where population growth strains land resources[3]. Its timing aligns with climate pressures—droughts, wildfires, and carbon goals—favoring tools that boost rangeland resilience without expansion[4]. Market forces like labor shortages and fencing costs amplify adoption, positioning Vence ahead of competitors like 406 Bovine (facial recognition) or CowManager (ear sensors) by eliminating wearables' limitations through collar-based virtual control[1]. It influences the ecosystem by accelerating Merck's sustainability push, inspiring similar AI applications in grazing worldwide[3][4].
With Merck's backing, Vence is poised to expand collar deployments, refine AI for multi-species use, and integrate advanced analytics for predictive herd health. Trends like regenerative agriculture, regulatory carbon incentives, and IoT ranching will propel growth, potentially dominating virtual fencing as costs drop further. Its evolution from startup to Merck asset underscores agritech's maturation, transforming ranching profitability and planetary health—echoing Holdsworth's vision of accessible, sustainable protein for a crowded world[3].
Vence has raised $15.0M across 2 funding rounds. Most recently, it raised $12.0M Series A in April 2021.
