Back in 2020 I covered how the U. K. startup YardLink — which allows construction companies to obtain critical equipment faster than normal equipment rental companies — had raised its seed round. It was basically bringing the digital-first, market place approach to an industry normally hide-bound simply by a slow, centralized hire market.
Two years later, and YardLink is back with a $17. 5 million Series A funding round led by Beringea, with participation from Amplifier and existing investors Speedinvest and FJ Labs.
From its rental roots, the company has now matured into a full-service supply chain management platform, meaning contractors get access to suppliers of tools, equipment, bulk materials, fuel, waste management and other services plus materials. All can be sourced, booked and paid for via the system.
As YardLink CEO Neeral Shah said in the statement: “Construction is one of the least digitized industries with over 95% of supply string transactions still being conducted over the phone, email plus pen and paper… YardLink connects construction customers with their supply chain on a single digital platform. ”
Commenting, Maria Wagner, partner at Beringea added: “YardLink has the potential to establish itself as the go-to market for building supplies. ”
Over email, the company also told me that the locality of its supply chain is helping to minimize the carbon footprint of structure projects.
Shah provided trade financing for construction procurement for years, but spotted a gap in the market plus launched YardLink in 2018. It right now claims to have 3, 000+ customers.