{"id":340226,"date":"2017-05-06T06:45:33","date_gmt":"2017-05-05T22:45:33","guid":{"rendered":"http:\/\/techcrunch.com\/?p=1486001"},"modified":"2017-05-06T06:45:33","modified_gmt":"2017-05-05T22:45:33","slug":"caterpillar-acquired-yard-club-a-marketplace-for-construction-equipment","status":"publish","type":"post","link":"https:\/\/people.utm.my\/asmawisham\/caterpillar-acquired-yard-club-a-marketplace-for-construction-equipment\/","title":{"rendered":"Caterpillar acquired Yard Club, a marketplace for construction equipment"},"content":{"rendered":"

<\/p>\n

Yard Club<\/a>, a startup founded to make more efficient use of construction and other heavy equipment, has been acquired by Caterpillar. Terms were not disclosed, but\u00a0Yard Club CEO Colin Evran confirmed the deal had closed earlier this week.<\/p>\n

The deal came about almost exactly two years after Caterpillar announced\u00a0a strategic investment<\/a>\u00a0in Yard Club. As part of that investment, Yard Club began working with the dealers in the Caterpillar network and helping them to rent as well as sell equipment to contractors and construction crews.<\/p>\n

Since then, Yard Club has continued to grow its rental business, while also adding features for users. According to the company\u2019s website, Yard Club processed $120 million in transactions across 2,500 contractors and rental companies in 2016.<\/p>\n

As time has gone on, the company also moved from a transactional business based on taking a cut of rentals made on its platform to one that provides a SaaS platform to help customers\u00a0manage\u00a0all the pieces of equipment they own or rent. That includes tools for dispatch, scheduling and fleet visibility, as well as inspection and maintenance management.<\/p>\n

Competitors in the space include startups like EquipmentShare<\/a>\u00a0and\u00a0Getable<\/a>. But compared to those companies, Yard Club has received\u00a0a relatively modest amount of venture investment. Altogether, the company had raised $5.1\u00a0million from investors that include Caterpillar, Andreessen Horowitz, Harrison Metal, Dorm Room Fund, Fred Poses and Andy Rachleff.<\/p>\n

Now that it\u2019s part of Caterpillar, the hope\u00a0is that Yard Club will be able to bring more tech to an industry that has sorely been lacking in tech.<\/p>\n

\u201cOur visions are aligned. We were already working within the Caterpillar distribution network and they were an investor in our company,\u201d Evran told\u00a0me. As part of the deal, Yard Club\u2019s 13 employees have\u00a0joined Caterpillar\u00a0and will act as the equipment maker\u2019s\u00a0digital presence in San Francisco.<\/p>\n

Featured Image: eSUB Inc.<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

\"\" Yard Club, a startup founded to make more efficient use of construction and other heavy equipment, has been acquired by Caterpillar. Terms were not disclosed, but Yard Club CEO Colin Evran confirmed the deal had closed earlier this week. Read More<\/a><\/p>\n

\n<\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n

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