At first, YardLink brought a digital-first marketplace approach to the industry normal hide-bound by a slow, centralized hire market.
With success, Yardlink is back with a $17.5m ‘Series A’ funding round led by Beringea, with involvement from Amplifier and current investors FJ Labs and Speedinvest.
YardLink authorizes construction companies to acquire vital equipment faster than traditional equipment rental outfits.
Construction sites usually have to lease equipment, but the centralized disposition of the traditional hire market means suppliers can be sluggish to deliver, leading to delayed projects. YardLink aims to speed up this approach with a digital-first marketplace approach with its network of 100 suppliers with more than 1,400 equipment stations across the U.K.
YardLink CEO, Neeral Shah said in a statement: “Construction is one of the least digitized industries with over 95% of supply chain transactions still being conducted over the phone, email and pen and paper… YardLink connects construction customers with their supply chain on a single digital platform.”
Shah supplied trade financing for construction procurement for years but observed a gap in the market which led to him launching YardLink in 2018. It now declares to have over 3000 customers.
Maria Wagner, Partner at Beringea, added: “YardLink has the potential to establish itself as the go-to marketplace for construction supplies.”
Yardlink had rental roots, but the company has now evolved into a full-service supply chain management platform, which means contractors get access to tools, equipment, bulk materials, fuel, waste management, and other services and materials suppliers. All can be sourced, booked, and paid for on its platform.