Canadian Construction-Technology Marketplace Leader DOZR Announces $27.5 Million Series B Funding Round
The leader in ecommerce and marketplace solutions for heavy equipment rentals fuels continued growth as DOZR expands footprint in U.S., doubles employee count.
KITCHENER, ONTARIO (February 8, 2022) – DOZR, the leader in marketplace heavy equipment rentals, today announced that it has raised $27.5 million CAD 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 further help DOZR expand its footprint across the United States. This raise is a key player in the recent funding fueling Canadian construction tech sector growth. As the world’s first comprehensive online search for heavy equipment, DOZR has changed the digital future of rentals by empowering users with transparent access to suppliers across the continent.
Ongoing global supply chain issues, increased demand, high utilization rates and manufacturing delays have compounded the existing challenges in gaining access to heavy equipment. Traditionally lack of transparency has made equipment availability and pricing difficult to access. Easy access to equipment through online rentals on DOZR.com has grown to be imperative to contractor success. DOZR’s online solutions make equipment rentals available at the click of a button.
“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.”
On a global scale, Canada is becoming an increasingly dominant force in the construction tech sector, making DOZR part of the fastest growing eco-system on the planet.
DOZR’s 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. As many rental houses do not currently offer instant rental transactions, DOZR’s software is bringing the industry forward and facilitating success as companies adapt to an increasingly digital world.
DOZR is also announcing 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. The first to introduce the next generation of Con-Tech marketplaces, DOZR has become the ecommerce rental solution for many equipment rental companies across North America. DOZR.com has quickly become the source of truth and transparency for heavy equipment rentals, welcoming more than 2 million website visits last year alone.
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. With no plans of slowing down, DOZR has experienced tremendous growth by tripling year over year and this raise will further propel that continued expansion.
“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,” comments 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.”
In addition to providing users with the world’s first intelligent search for heavy equipment and introducing WebStores in 2020, the company also launched it’s Order Tracker Experience in 2021. The first of its kind, Order Tracker, allows contractors to digitally manage their rentals from start to finish.
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About DOZR:
DOZR offers marketplace and ecommerce solutions for the online rental of heavy equipment. DOZR.com offers the world’s largest fleet of heavy equipment and has quickly become the contractor’s first choice for online equipment rentals. DOZR-powered ecommerce solutions including the WebStore enable equipment suppliers and rental houses the opportunity to digitize their businesses through ecommerce. Founded by experienced construction and technology veterans, DOZR connects contractors and rental companies, ensuring a touchless, ecommerce equipment rental experience.
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