On Feb. 25, Getable, an on-demand equipment-rental app previously available only in California, announced its nationwide availability, a $5-million round of venture-capital financing and an update to its app.
"To date, Getable was the third-party rental-equipment aap. Now, it is the equipment app and will track 100% of equipment on a jobsite," says Tim Hyer, CEO Getable, San Francisco, about the app update that allows users to manage all equipment from within the app, no matter the source.
"It can come from us or be company-owned or come from other rental companies, like H&E Equipment or Caterpillar," says Hyer. Most rental companies have their own app that allows customers to track equipment from only that one rental house, he adds.
"We want the customer to have one place to track equipment," says Hyer.
The app's main functionality is connecting construction industry professionals with third-party rental companies that display available stock in the app and offer same-day delivery.
"They've been quick with all their pricing and getting us what we need," says Thomas Palmieri, project engineer at San Gabriel Trench, Walsh Group, Chicago. He has used the app to get equipment as soon as the same day and as far out as a week, he notes.
"I think for smaller general contractors, the update is a good fit," says Palmieri about the app's new equipment tracking and management library. "It gives the billing cycle and all the information on your equipment in one place," he says.
But the app does more than manage equipment, says Hyer: It can be used to settle disputes.
"Before Getable, there was no paper trail of what happened around the life cycle of a rental," says Hyer. "Who requested the service? When was it delivered? What was wrong with the item, if anything?" All the disputes are logged from within the app, says Hyer. "It really helps settle payment disputes."
Hyer says a lot of Getable's users are very vocal in their praise, which was valuable feedback for when investors had questions about the service. But some contractors—Zachary Construction, San Antonio, and DPR Construction, Redwood City, Calif., among several others—did more than talk and became investors in the company.
"This recent $5-million venture capital round saw quite a few users— contractors—turn investor," says Hyer.