Gearflow.com raises $1.1 million seed funding to grow its construction equipment rental platform

The construction equipment rental industry, a $55 billion industry in the US, is comprised of thousands of businesses – 80% of which are independent owners. Enter Gearflow, a construction equipment and parts marketplace for dealers, OEMs, contractors, and parts sellers improving job sites across America. Gearflow.com’s e-commerce platform is built to support and digitally represent the thousands of construction equipment rental companies and complementary businesses that make up the construction equipment industry.

Gearflow.com, a tech startup and the provider of the first e-commerce platform for construction equipment rental businesses, has raised  $1.1 millionseed funding round to support the growth of their platform and team. Backers include Seth Lawry, Cindy Lawry, and Soren Oberg of Thomas H. Lee Partners, Annabelle LLC, and Chicago Early Growth Ventures.

Founded in 2017 by Benjamin Preston and Luke Powers, Gearflow.com was launched in the fall of 2018. The startup has grown to over 90 active sellers from independent to national rental equipment companies.

“This funding kicks off our development of the next iteration of Gearflow.com to help all businesses in the construction equipment industry seamlessly transition into the digital economy,” said Luke Powers, Founder and CEO of Gearflow.com.

“Coming from equipment rental, I saw an opportunity to support all of the great businesses that make up this industry and now we will have the platform and team to do it.”The construction equipment rental industry, a $55B industry in the US, is comprised of thousands of businesses – 80% of which are independent owners. “Gearflow.com is poised to fill a tremendous void in the construction equipment space and we’re excited about their opportunity for growth,” said Jeff Eschbach, Founding Partner of Chicago Early Growth Ventures.

“But what really set Gearflow.com apart for Chicago Early Growth Ventures is their deep connections within the equipment rental space and experienced founders that have spent years working and learning the rental industry. They have the vision and domain expertise to fundamentally improve the way construction equipment is bought, rented, and sold.”