EquipmentShare completes another $150M equity raise, building on its Series E funding
September 13, 2023 | Startland News Staff
COLUMBIA, Missouri — The latest tranche of funding for EquipmentShare puts mid-Missouri’s most earth-moving scaleup close to a half-billion dollars in funding announced over the past six months.
EquipmentShare, a Columbia-based equipment and digital solutions provider serving the construction industry, on Wednesday announced it completed an extension of its Series E equity raise, led by funds affiliated with BDT & MSD Partners.
Through the extension, EquipmentShare raised an incremental $150 million from existing and new investors, for a total of $440 million in Series E funding in 2022 and 2023.
RELATED: EquipmentShare digs massive $290M round, deepening US footprint, its T3 tech platform
“We are pleased to announce the extension of our equity raise which furthers our ability to build the future of construction through cutting-edge technology,” said Jabbok Schlacks, CEO and co-founder of EquipmentShare. “Once again, our growth is driven by our bar raising rental experience and an influx of customers embracing our technology-driven construction solutions. This round of funding not only attracts fresh capital from both new and existing investors, but it also showcases our ability to stand tall in a challenging macroeconomic landscape, positioning us for even greater success in the future.”
Since its founding in 2015, EquipmentShare has experienced rapid growth, spurred by the demand for its fleet management technology and equipment solutions. In 2022, EquipmentShare opened 32 new branch locations, and today its geographic footprint has more than 185 locations across the U.S.
“The extension of our equity raise speaks to the strength of our business and our proven track record of performance and growth,” said Trevor Schauenberg, CFO of EquipmentShare. “This new capital enhances our liquidity and will enable us to continue to invest in the expansion and distribution of our U.S. rental footprint and our T3 technology platform.”
Jabbok Schlacks and Willy Schlacks, EquipmentShare
The company previously announced a $230 million funding round in summer 2021, fueling these national expansion plans.
Since then, EquipmentShare’s momentum has earned the Columbia region headline-grabbing attention as one of the Midwest’s top startup hubs, the startup itself as been recognized as a national leader in workplace satisfaction, and its co-founder brothers have worked to invest in their state by relaunching Missouri Startup Weekend (formerly Columbia Startup Weekend) and creating the Redbud VC early stage venture capital fund (formerly Scale VC).
RELATED: Columbia-based VC launches Fund II with $5M investment led by UM System, Shelter Insurance
Officials from BDT & MSD Partners noted they’re excited to deepen their partnership with the team behind such work.
“Through a combination of deep, hands-on industry knowledge and cutting-edge technology systems, EquipmentShare is helping to make the rental equipment market and broader construction space more productive, efficient and safe,” said Henry Yeagley, partner at BDT & MSD Partners. “As an aligned, long-term capital partner to family- and founder-led companies, we look forward to supporting EquipmentShare in its next chapter of growth.”
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