It hasn’t even been a year since EquipmentShare raised a Series A round of funding, but the “Airbnb of construction rentals,” has closed a $26 million Series B round. The Columbia, Missouri-based startup helps contractors rent out their under-utilized equipment, or rent safety tested equipment that they need from a fellow contractor.
Last year, EquipmentShare also launched a telematics system for contractors called ES Track that allows them to automatically gather data about their equipment, whether it’s parked, being used on a job, or rented out. The data is displayed on a digital dashboard that’s easy to read on a mobile device or PC.
The company sends technicians out to install the ES Track system on contractors’ equipment to get them started. The system, and installation service, has helped contractors get ready for a new federal regulation set to take effect later this year, called the ELD rule , which requires drivers to use “electronic logging devices,” to record driving time, hours of service and more about their fleets.
