Innovation in automated equipment presents opportunities for increased efficiency for contractors, but this comes at a huge financial cost. Furthermore, whilst this equipment is often highly valuable for the completion of a contractor task, the equipment may remain unused for a significant time after task completion.
EquipmentShare provides a telematics platform for contractors called ES Track, a service that facilitates the rental of under-utilised equipment. This is achieved by using the software to determine usage statistics of a piece of equipment, providing insights into financial opportunities a contractor may have in terms of equipment rental.
In addition to presenting itself as the ‘Airbnb of contract equipment’, the company presents further potential by focusing on transforming existing equipment to be fully autonomous. 2023 funding was used to expand its reach, and in combination with providing rental insights, EquipmentShare’s approach is uniquely focused on finding money-saving opportunities for contractors. Its next step is to rally for an IPO, for which it aims to raise more than $777 million.
Kirsty
Company Specialist at Welcome to the Jungle