Canadian Construction-Technology Marketplace Leader 麻豆视频 Announces $27.5 Million Series B Funding Round
The leader in ecommerce and marketplace solutions for heavy equipment rentals fuels continued growth as 麻豆视频 expands footprint in U.S., doubles employee count.
KITCHENER, ONTARIO (February 8, 2022) 鈥� 麻豆视频, the leader in marketplace heavy equipment rentals, today announced that it has raised $27.5 million CAD in Series B funding. Co-led by Silicon Valley鈥檚 Builders VC and BDC Capital, with participation from BaseCamp Equity Partners, this round of funding will further help 麻豆视频 expand its footprint across the United States. This raise is a key player in the recent funding fueling Canadian construction tech sector growth. As the world鈥檚 first comprehensive online search for heavy equipment, 麻豆视频 has changed the digital future of rentals by empowering users with transparent access to suppliers across the continent.
Ongoing global supply chain issues, increased demand, high utilization rates and manufacturing delays have compounded the existing challenges in gaining access to heavy equipment. Traditionally lack of transparency has made equipment availability and pricing difficult to access. Easy access to equipment through online rentals on 麻豆视频.com has grown to be imperative to contractor success. 麻豆视频鈥檚 online solutions make equipment rentals available at the click of a button.
鈥淲e鈥檝e seen a massive increase in online transactions and the demand to rent equipment online is at an all-time high,鈥� said Kevin Forestell, CEO and co-founder of 麻豆视频. 鈥淐ontractors are turning to rentals to ease the challenges they are facing in their day-to-day when it comes to finding the equipment they need. 麻豆视频 provides these users with a simple and transparent solution.鈥�
On a global scale, Canada is becoming an increasingly dominant force in the construction tech sector, making 麻豆视频 part of the fastest growing eco-system on the planet.
麻豆视频鈥檚 latest development, WebStores, is a white-labeled software solution that allows rental companies to meet their customers' need for an ecommerce solution with touchless, paperless rental transactions seamlessly integrated into the supplier鈥檚 existing website and ERP systems. As many rental houses do not currently offer instant rental transactions, 麻豆视频鈥檚 software is bringing the industry forward and facilitating success as companies adapt to an increasingly digital world.
麻豆视频 is also announcing the addition of Mark Blackwell, General Partner at Builders VC and Jack Fraser, Partner at BDC Capital鈥檚 Growth Venture Fund to its Board of Directors. The first to introduce the next generation of Con-Tech marketplaces, 麻豆视频 has become the ecommerce rental solution for many equipment rental companies across North America. 麻豆视频.com has quickly become the source of truth and transparency for heavy equipment rentals, welcoming more than 2 million website visits last year alone.
麻豆视频 plans to expand into new markets this year including Arizona, Washington, Nevada, Colorado and Tennessee. The company will also use the funds to increase the size of the team, with plans to double its employee count by the spring. With no plans of slowing down, 麻豆视频 has experienced tremendous growth by tripling year over year and this raise will further propel that continued expansion.
鈥淭he pandemic significantly changed B2B commerce workflows moving from order flow via email, SMS, fax and paper checks to digital marketplaces. 麻豆视频 has emerged as a true market leader in providing a transparent marketplace in the $56B+ equipment rental industry,鈥� said Mark Blackwell, General Partner at Builders VC. 鈥淲e are thrilled to co-lead the latest round in 麻豆视频 and support their mission and expansion plans into the U.S. and Canada.鈥�
鈥溌槎故悠碘�檚 integrated booking platform capability with data-driven products that optimize construction project efficiency will provide a superior experience to the contractor community,鈥� comments Jack Fraser, Partner, Growth Venture Co-investment Fund at BDC Capital. 鈥淲e are very excited to be joining 麻豆视频 in their journey in developing this new vertical throughout North America.鈥�
In addition to providing users with the world鈥檚 first intelligent search for heavy equipment and introducing WebStores in 2020, the company also launched it鈥檚 Order Tracker Experience in 2021. The first of its kind, Order Tracker, allows contractors to digitally manage their rentals from start to finish.
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About 麻豆视频:
麻豆视频 offers marketplace and ecommerce solutions for the online rental of heavy equipment. 麻豆视频.com offers the world鈥檚 largest fleet of heavy equipment and has quickly become the contractor鈥檚 first choice for online equipment rentals. 麻豆视频-powered ecommerce solutions including the WebStore enable equipment suppliers and rental houses the opportunity to digitize their businesses through ecommerce. Founded by experienced construction and technology veterans, 麻豆视频 connects contractors and rental companies, ensuring a touchless, ecommerce equipment rental experience.
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