Ongoing global supply chain issues, increased demand, high utilization rates and manufacturing delays have compounded the existing challenges in gaining access to heavy equipment. Easy access to equipment through online rentals has grown to be imperative to contractor success.
As many rental houses do not currently offer instant rental transactions, DOZR has become an ecommerce rental solution for many equipment rental companies across North America. Its 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’s existing website and ERP systems.
DOZR also launched Order Tracker in 2021, which allows contractors to digitally manage their rentals from start to finish. Its website welcomed more than 2 million visits last year alone. “We’ve seen a massive increase in online transactions and the demand to rent equipment online is at an all-time high,” said Kevin Forestell, CEO and co-founder of DOZR. “Contractors 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. DOZR provides these users with a simple and transparent solution.”
To fuel its continued growth, DOZR announced that it has raised $22 million USD in Series B funding. Co-led by Silicon Valley’s Builders VC and BDC Capital, with participation from BaseCamp Equity Partners, this round of funding will help DOZR further expand its footprint across the United States. DOZR also announced the addition of Mark Blackwell, General Partner at Builders VC, and Jack Fraser, Partner at BDC Capital’s Growth Venture Fund, to its Board of Directors.
DOZR 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.
“The pandemic significantly changed B2B commerce workflows moving from order flow via email, SMS, fax and paper checks to digital marketplaces. DOZR has emerged as a true market leader in providing a transparent marketplace in the $56B+ equipment rental industry,” said Mark Blackwell, General Partner at Builders VC. “We are thrilled to co-lead the latest round in DOZR and support their mission and expansion plans into the U.S. and Canada.”
“DOZR’s integrated booking platform capability with data-driven products that optimize construction project efficiency will provide a superior experience to the contractor community,” commented Jack Fraser, Partner, Growth Venture Co-investment Fund at BDC Capital. “We are very excited to be joining DOZR in their journey in developing this new vertical throughout North America.”
