On October 5, Columbia, Missouri based EquipmentShare filed paperwork confirming an additional $10 million raise.
This filing followed a late August filing that the firm had raised $25 million. This fund raise follows an A Round led by Romulus Capital and Insight Ventures––nationally recognized venture capital firms that don’t tend to invest frequently in the Silicon Prairie.
EquipmentShare provides software and analytical tools to contractors and other organizations close to the construction and heavy equipment industries. The software helps contractors and original equipment manufacturers (OEMs) do a variety of tasks including lending, and leasing, and tracking equipment utilization to better manage the expense associated with large construction projects. Moreover, the company provides national and regional reports to customers seeking transparency and insight into the overall construction equipment market.
The firm was started by brothers, Willy and Jabbok Schlacks. The two brothers ran a successful contracting business but discovered that operating the business during growth periods was challenging because of the occasional need for specialized equipment. Rather than persist within the challenge of traditional rental structure, the Schlacks and their founding team leaned on the “sharing economy” model to create EquipmentShare.
Since its inception in 2014, the Columbia, Missouri based firm has raised more than $54 million, including significant dollars tied to Y Combinator and celebrity funders, such as Ashton Kutcher.
For more information, see the company’s website at www.equipmentshare.com.