Venture Capital: Equipment Provider EquipmentShare Lands $290M Series E
The round achieved a 40% higher valuation for EquipmentShare.
EquipmentShare, a provider of equipment and digital solutions to the construction industry, has successfully completed a $290m funding round. The Series E funding round was led by funds affiliated with BDT Capital Partners. It also included new investors such as Brown Advisors, and existing investors, including RedBird Capital Partners, Tru Arrow Partners and Sound Ventures.
EquipmentShare’s valuation in the latest round was 40% higher than the previous funding round in 2021. The company has now received close to $700m in total equity investments since its inception in 2014. (STARTLAND NEWS)
“Drawing on decades of construction experience, they have created a profitable, fast-growing, tech-enabled business with the potential to meaningfully disrupt the equipment rental market and the broader construction space,” said Henry Yeagley, partner and head of middle market at BDT & MSD Partners.
EquipmentShare was founded by the Schlacks brothers, Brad Siegler, Jeff Lowe, and Matthew McDonald, after winning Startup Weekend in Columbia in 2014. The company has experienced rapid growth since its inception, and in 2022, it opened 32 new branch locations and acquired thousands of new customers. Today, it has more than 150 locations.
The new funding will be used to expand the company’s US footprint, invest in its T3 technology platform and strengthen its balance sheet. The new funding will help EquipmentShare continue to serve the rising demand for its equipment and digital solutions.
Related Story: Disperse Raises $16M For AI-Enabled Construction
Photo by Jonny Caspari on Unsplash
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