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External Partners Alumni Search Submit Return to home Search Search About About Olin Home Why Olin Equity, Diversity & Inclusion Leadership & Strategy News & Media Events Contact Us Programs Programs Home Explore Our Programs BS in Business Administration MBAs Specialized Master's Doctoral Executive Education Dual Degrees Faculty & Research Faculty & Research Home Faculty Directory Research Research Centers Olin Brookings Commission Olin Award Student Resources Student Resources Home Career Services Center for Experiential Learning Entrepreneurship Academic Calendars Student Organizations For Current Students For Military Veterans Admissions Admissions Home Scholarships & Aid Attend Program Events Visit Olin Ask a Student Student Profiles Request Information Refer a Candidate External Partners Alumni Steiner, EMBA 1992, leads startup to new $2M funding round December 21, 2018 By WashU Olin Business School 1 minute read Home News Steiner, EMBA ’92, leads startup to new $2M funding round A St. Louis-based ag tech startup led by a WashU Olin alum has closed another round of financing as it moves toward the commercial launch of a new cash crop in 2021. Jerry Steiner, EMBA 1992, is CEO of&＃160;CoverCress, a post he&＃8217;s held since January 2015, two years after the company was founded as Arvegenix. Steiner has 15 years&＃8217; experience previously with Monsanto. CoverCress closed its latest $2 million round of funding November 14. Two prominent organizations co-led the funding round,&＃160;Bayer Growth Ventures, the venture capital arm of Bayer and formerly Monsanto Growth Ventures; and BioGenerator, the investment arm of local nonprofit BioSTL. The round brings the company&＃8217;s total funding to nearly $8 million, according to the&＃160;St. Louis Business Journal&＃160;(subscription required). The company at the same time rebranded to CoverCress, reflecting its focus on developing a cash crop based on the native plant pennycress. According to&＃160;the firm&＃8217;s news release, &＃8220;CoverCress is a new winter oilseed cash crop designed to provide winter and early spring soil cover between corn harvest and soybean planting, while producing an oilseed crop. CoverCress oil and protein meal are similar to that of canola.&＃8221; &＃8220;Many farmers have told us that they want to do more to protect soil and water as well as find new&＃160;sources of income from their land,&＃8221; Steiner said in the release. &＃8220;We are responding with CoverCress, a unique product to deliver both benefits to farmers.&＃8221; About the Author WashU Olin Business School Firmly established at the Gateway to the West, Olin Business School at Washington University in St. Louis stands as the gateway to something far grander in scale. The education we deliver prepares our students to thoughtfully make difficult decisions—the kind that can change the world. Contact Us For assistance in finding faculty experts, please contact Washington University Public Affairs. Monday&＃8211;Friday, 8:30 to 5 p.m. Sara Savat, Senior News Director, Business and Social [email protected] &＃160; Kurt Greenbaum,Communications [email protected] Twitter: WUSTLnews Share article Apply Now Visit Us Request Info One Brookings Drive, St. Louis, MO 63130-4899 [email protected] 314-935-7301 News & Media Events Faculty Directory WashU Center for Career Engagement Washington University home Olin Links Sitemap Privacy Policies Title IX Accessibility ©2024 Washington University in St. Louis