LOS ANGELES and ATLANTA, Oct. 13, 2026 /PRNewswire/ — Terminus Capital Partners (TCP), a growth-oriented private equity firm focused on majority investments in B2B technology companies, today announced that it has made a majority investment in PickTrace, a leading provider of workforce management, labor compliance and operations technology purpose-built for agriculture. The partnership positions PickTrace to accelerate product innovation, expand its platform, unlock new markets, and advance its vision of becoming the core operating system for specialty agriculture. Terms of the transaction were not disclosed.

Alongside TCP, PickTrace will continue to invest in product innovation and platform capabilities, as well as the teams and infrastructure that support its customers. PickTrace will remain keenly focused on the agricultural industry and retain the customer-centric approach that has been foundational to the company’s growth.

“PickTrace has established itself as the clear leader in the labor compliance and time & productivity market niche within AgTech focused on specialty growers,” said Alex Western, Founder and Managing Director of Terminus Capital Partners. “PickTrace is a critical technology vendor because it collects proprietary labor data, it serves as the system of record for onboarding paperwork and wage data, and it underpins payroll, compliance, and farm management for its clients. From that incredible starting point, we see an opportunity to partner with Damon, Harrison, Austin, Kalyn and the broader PickTrace team to build a leader in the fragmented specialty grower AgTech market.”

Damon Valenzona, CEO of PickTrace, said: “This partnership marks an exciting next chapter for PickTrace and the customers we serve. Our recipe for success has been simple: focus on delivering best-in-class technology and customer service to agriculture operations. With TCP as our partner, we have an opportunity to accelerate that success, investing more deeply in our team, our platform, and our customer service.”

PickTrace’s roots in agriculture run deep. The company was founded by brothers Austin and Harrison Steed, who grew up working on their family’s blueberry, avocado and citrus farm in Southern California. They began building technology to solve challenges they experienced firsthand. That direct understanding of agriculture, combined with a culture of deep customer empathy, continues to shape how PickTrace builds and delivers its technology today. Austin and Harrison are excited to continue partnering with TCP.

Since its founding, PickTrace has expanded beyond its roots in workforce management to support a growing range of critical agricultural operations. Its platform spans workforce onboarding, time and productivity management, payroll and compliance workflows, field operations, logistics, quality control and other operational processes. By connecting workflows and data across the business, PickTrace helps operators reduce manual processes, improve visibility and turn real-time information into action.

Agricultural businesses operate in an exceptionally complex environment, managing large and often seasonal workforces across disparate acreage and diverse crops while navigating evolving compliance requirements, cost pressures and the need to continually improve productivity. PickTrace combines firsthand industry knowledge, purpose-built technology, white-glove implementation support and high-touch customer success to solve these challenging problems faced by growers every day.

Through its majority investments, TCP works closely with management teams to drive sustainable, long-term value creation. As part of the transaction, TCP will provide strategic and operational support as PickTrace continues pursuing its long-term vision for agricultural technology.

Moelis served as financial advisor and JonesSpross served as legal counsel to TCP. Software Equity Group (SEG) served as exclusive financial advisor and Holland & Knight served as legal counsel to PickTrace.

For more information, visit www.picktrace.com and www.terminuscp.com.

Media Contacts

For Terminus:

Claudia Williams
Chief of Staff, Terminus Capital Partners
TCPAdmin@terminuscp.com 

For PickTrace:

Damon Valenzona
Chief Executive Officer, PickTrace
damon.valenzona@picktrace.com

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SOURCE PickTrace