After two-years of building up its user base in the lower Midwest, peer-to-peer construction-equipment rental service EquipmentShare recently has secured $26 million in private equity funding. The Columbia, Mo.-based tech start-up plans to invest the new funds in refining its telematics management software.
“We’re shifting focus away from market expansion,” says Willy Schlacks, who cofounded the firm with his brother Jobbock Schlacks. “For us, this latest investment is for the technology side, building out telematics and solving contractor problems.”