With KC expansion set, EquipmentShare raises $28.4M
January 24, 2017 | Bobby Burch
A firm that’s planning to open a Kansas City tech office snagged millions in equity financing for its platform touted as the “Airbnb for construction equipment.”
Based in Columbia, Mo., EquipmentShare raised about $28.4 in a Series B round that will accelerate its expansion to major metros around the nation, according to a filing with the Securities and Exchange Commission.
EquipmentShare created a platform that’s disrupting the way contractors and construction crews rent equipment. Instead of turning to more expensive equipment rental companies, the firm’s peer-to-peer marketplace to rent construction equipment connects contractors to other contractors to find and rent unused equipment that otherwise would be collecting dust. In addition to the marketplace, the firm created a device — the ES Tracker — that provides real-time data on the location and use of machines that have been rented.
Founded in 2014, EquipmentShare has garnered serious traction in its three years. The company already has 95 employees, raised more than $30 million and participated in the Y Combinator accelerator program.
The marketplace is in operation in Columbia, St. Louis, Dallas, Jacksonville and Auckland, New Zealand, but plans to expand quickly in the coming year. In the next 18 months, the firm plans to expand its offerings into most major metros in the United States, including Atlanta, San Francisco, Chicago, New York City and others.
As it expands around the nation, EquipmentShare co-founder Willy Schlacks said he’s hoping to hire about 20 Kansas City software and web developers for the firm.
2017 Startups to Watch
stats here
Related Posts on Startland News
BKS Artisan Ales takes measured approach with nano-brewery concept
It takes only about an hour for BKS Artisan Ales to sell out of its packaged bottles and cans each Saturday afternoon, Brian Rooney said. “We thought it would be great if maybe 40 people came in and maybe each of those 40 took a beer home,” said Rooney, a craft brewer who owns and…
KC named a top ‘dark horse’ to land Amazon HQ2
National media is lending credence to Kansas City’s prospects of attracting Amazon’s second headquarters. Inc. Magazine on Wednesday published a list of “5 Dark Horse Cities” to land Amazon HQ2, a prospective project that promises to create upward of 50,000 new jobs in whatever locale that nabs the online retailer’s massive new hub. While speculative,…
Couple with tech, startup background embraces risk-taking as new Pitch owners
Local ownership of The Pitch will preserve the Kansas City alternative news publication’s voice, as well as expanding digital content for readers, and promotions and services for advertisers, Stephanie Carey said. “I love the independent voice. I love the fact that we can push those boundaries, push the envelope on stories, dig a little deeper,”…
Cultural differences contribute to entrepreneur access gap, Porter House founder says
Early education about entrepreneurism and the resources available aren’t typically priorities in low- to moderate-income communities, said Daniel Smith. “A lack of access results because we don’t really have a lot of programs in our communities that focus on small business and entrepreneurism,” said Smith, founder of The Porter House KC. “It’s more focused on…