Terminus Capital Partners Takes Majority Stake in Farm Software Maker PickTrace

Terminus Capital Partners announced a majority growth investment in PickTrace on October 13, 2026, with terms undisclosed. The Glendale, California company sells workforce management software to large-scale farms and plans to expand its platform, product development and customer support while retaining its agricultural focus.

PickTrace builds software around the records that connect field work to the office that pays for it. Its Onboarding product offers document scanning, employee self-hire links, English and Spanish workflows and payroll exports. Time & Productivity tools track field and warehouse labor, including online and offline use, and support wage calculations covering piecework, breaks and overtime, with integrations to payroll providers such as Famous and Datatech. A receiving product follows bins and boxes into truck loads, creates digital load tickets and records arrivals; the company also describes quality flags and synchronization with enterprise resource planning or warehouse management systems.

Terminus Capital Partners is an Atlanta private equity firm focused on majority investments in business software. TCP founder Alex Western pointed to PickTrace's position in labor information, onboarding documents and wage records, according to the announcement. TCP says it will provide strategic and operational support as PickTrace develops a broader role in specialty agriculture operations. CEO Damon Valenzona described deeper investment in the team, platform and customer service as priorities for the partnership.

The transaction amount, valuation and precise ownership percentage were not disclosed, and the announcement did not break out how much of the consideration is new capital for the company versus proceeds to existing shareholders.

Founders Austin Steed and Harrison Steed will continue partnering with TCP, according to the announcement. The company traces its original concept to the brothers' family farm in Southern California in 2013, where blueberries, avocados and citrus exposed them to manual payroll calculations and productivity tracking. PickTrace records its first outside customer in 2014 and participation in Y Combinator in 2015. Today Harrison Steed is president, Austin Steed is a founder and board member, and Damon Valenzona is CEO.

The company describes customers across the United States and several international markets, including Mexico, Peru, Chile and Australia. Those are company-reported footprint claims rather than a published financial measure of international scale. The relevant point for the product is variation: supporting growers across different operating environments requires software and implementation practices that can accommodate different work routines.

PickTrace's product materials describe in-person implementation, emergency support and bilingual customer operations. That service component sits directly beside the product ambitions named in the announcement, because a feature becomes part of a farm's routine only when somebody can explain it, configure it and help the customer use it.