Total amount raised
$3.5 Billions
Latest funding date
4/1/2024
Location
EquipmentShare has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The company offers a range of technology solutions tailored for construction companies and equipment rental businesses.
Keep reading to explore the intricacies of EquipmentShare's fundraising journey and the investors backing this innovative platform.
What Is EquipmentShare?
Founded in 2015, EquipmentShare is based in Columbia, Missouri. The company was established by Brad Siegler, Jabbok Schlacks, Jeffrey Lowe, Matthew McDonald, and William Schlacks.
EquipmentShare provides construction equipment and tool rental services, along with technology solutions for fleet management. Their T3 technology platform offers telematics and fleet management solutions.
With a workforce of 1001-5000 employees, EquipmentShare continues to innovate in the construction industry, offering a range of services including equipment rentals, fleet management, logistics, and disaster response solutions.
How Much Funding Has EquipmentShare Raised?
- Debt Financing
- Amount Raised: $1.2B
- Date: September 2021
- Lead Investors: Capital One Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business expansion and operational needs.
- Series D
- Amount Raised: $230M
- Date: July 2021
- Lead Investors: RedBird Capital Partners, The Spruce House Partnership, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel growth and enhance technology solutions.
- Series E
- Amount Raised: $290M
- Date: April 2023
- Lead Investors: BDT & MSD Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand technology offerings and market reach.
- Debt Financing
- Amount Raised: $640M
- Date: May 2023
- Lead Investors: Capital One
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational growth and debt refinancing.
- Series E
- Amount Raised: $150M
- Date: September 2023
- Lead Investors: BDT & MSD Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand market presence.
- Debt Financing
- Amount Raised: $400M
- Date: September 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business growth and operational needs.
- Debt Financing
- Amount Raised: $600M
- Date: April 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To repay and refinance existing debt.
Total Amount Raised: $3.51B. Current Valuation: Not publicly disclosed.
Key Investors
- BDT & MSD Partners
- Details: BDT & MSD Partners is a merchant bank that provides advice and long-term capital through its affiliated funds to family- and founder-led businesses. The firm combines the capabilities of BDT Capital Partners and MSD Partners, the investment firm formed by the partners of Michael Dell's family office.
- Investment Focus Areas: Consumer products, technology, healthcare.
- Notable Investments: Dell Technologies, Keurig Dr Pepper, Tory Burch.
- Capital One Ventures
- Details: Capital One Ventures is the strategic investment arm of Capital One Financial Corporation. They invest in early-stage startups that align with Capital One's strategic priorities.
- Investment Focus Areas: Fintech, data, security.
- Notable Investments: Snowflake, Plaid, Finix.
- RedBird Capital Partners
- Details: RedBird Capital Partners is a private investment firm focused on building high-growth companies. They partner with entrepreneurs and family-owned businesses to provide strategic capital and operational expertise.
- Investment Focus Areas: Sports, media, financial services.
- Notable Investments: Fenway Sports Group, On Location Experiences, The SpringHill Company.
- The Spruce House Partnership
- Details: The Spruce House Partnership is a private investment firm that focuses on long-term investments in public and private companies. They are known for their patient capital approach and deep research capabilities.
- Investment Focus Areas: Technology, consumer, industrials.
- Notable Investments: Not publicly disclosed.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that deploys capital globally in both public and private markets. They are known for their aggressive investment strategy in high-growth technology companies.
- Investment Focus Areas: Technology, consumer internet, software.
- Notable Investments: Facebook, LinkedIn, Spotify.
What's Next for EquipmentShare?
EquipmentShare stands at the cusp of significant growth opportunities, driven by its recent successful fundraising efforts. The company’s upsized offering of $600 million in senior secured second lien notes, coupled with credit rating upgrades, positions it well to capitalize on the increasing demand for tech-enabled construction solutions. With 215 locations across 38 states, EquipmentShare is poised to expand its market presence and enhance its proprietary technology, T3, to improve job site productivity and safety.
Future fundraising opportunities appear promising, given the favorable conditions created by the recent credit rating upgrades. EquipmentShare may continue to leverage its improved financial standing to secure additional funding, potentially through further bond offerings or strategic acquisitions. However, the company must navigate challenges such as managing its increased debt load and maintaining compliance with regulatory requirements. Competition in the tech-enabled construction market also remains a significant hurdle.
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