Dozr Announces $22 Million Series B Funding Round
Dozr, a heavy equipment rental marketplace, 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 further help Dozr expand its footprint across the United States.
“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.”
Dozr’s latest development, WebStores, is a software solution that allows rental companies to meet their customers' need for an ecommerce solution with touchless, paperless rental transactions integrated into the supplier’s existing website and ERP systems, the company said.
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. Dozr said it had 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 its 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 Blackwell. “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,” said Fraser. “We are very excited to be joining Dozr in their journey in developing this new vertical throughout North America.”
Dozr also launched its Order Tracker Experience in 2021, which allows contractors to digitally manage their rentals from start to finish.
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.