Hitched Inc. Secures $5.5 Million Funding for Rental Platform

Hitched Inc., a marketplace for industrial rental equipment to the oil & gas, construction, and industrial industries, announced the close of its Series A funding led by Cottonwood Venture Partners, a growth equity firm.

Michael Roth

Jan. 9, 2020

2 min read

Founded in 2018, Hitched provides rental and service companies with the capability of hosting, chartering, and managing equipment, all in an intuitive, centralized platform. The Series A financing allows Hitched to accelerate its product development.

Hitched claims many benefits for end-users:

· One-touch, on-demand rentals comprising of forklifts, generators, cranes, and more;

· Examination and evaluation of product capabilities;

· Revenue summaries comprised of all assets including crew members, products, and equipment; and

· Secure authentication and payment.

"It is encouraging to see the support and excitement from CVP," said founder and CEO Adam Gilles. "With this Series A funding, we plan to continue to shake things up in the oil & gas, construction, and industrial industries."

Ryan Gurney, managing partner of CVP, added, "We're delighted to partner with the Hitched team. The industrial rental segment is incredibly opaque and riddled with inefficiencies. The Hitched platform provides both a transparent marketplace and an important management tool that allows both the renter and rentee to optimize rental inventory."

To learn more about Hitched's marketplace, products, and features, visit https://www.hitchedapp.com.

About the Author

Michael Roth

Editor

Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.