ProsRent Raises $500K in Revenue-Based Financing
ProsRent is revolutionizing the way construction equipment is sourced, managed and rented across the U.S. Offering technology solutions to bring renters and suppliers together directly, ProsRent is a construction equipment and services marketplace for renters, suppliers, and manufacturers, facilitating a direct relationship between renters and suppliers for construction equipment needs.
Revolutionizing the construction equipment rental industry, ProsRent recently raised $500,000 in non-dilutive growth funding from Lighter Capital. The growing company plans to put this round of funding toward targeted growth strategies and further enhancement of the ProsRent.com technology platform.
Since 2018, ProsRent has provided one of the first turn-key solutions on the market for everything related to rental equipment, especially for Commercial and Residential construction projects. Aiming to expand efficiency and operations among vendors in the coming year, ProsRent is focused on growth and innovation moving forward.
Recently, ProsRent grew their sales, tech, and client experience teams to support the rollout of a Supplier SaaS and Subscription model aimed at enhancing the operations of suppliers of rental equipment. They also became a partner of the Caterpillar National Accounts VIP Program to streamline the availability of CAT rental equipment nationwide.
"This team has put the theory of ‘adapt and overcome’ to test multiple times throughout the lifecycle of ProsRent.com. I could not be more impressed with the leaders and team members who have developed throughout the process and am very excited to see what the future has in store for us." - Nicholas J Powell, Co-Founder and CEO
Founded in 2017, ProsRent’s mission is to provide contractors a one-stop online marketplace where construction rental equipment could be rented directly from the supplier. With this innovative approach, ProsRent creates an opportunity for smaller equipment rental companies to compete with larger firms by creating a database to connect equipment rental companies with businesses seeking construction equipment. This leads to more competitive rates for customers and new growth for small to medium-sized construction rental companies.
“It's always rewarding to help founders and founding teams who are relentless about bringing innovation to untapped markets. The team at ProsRent is consistently bringing immense value to their customers—their revenue growth proves it. We're ecstatic to partner with Nick, Sheharyar, and the ProsRent team.” - Lowery Thomas, Investment Director at Lighter Capital
Think of ProsRent as the “Uber” of construction equipment. From Porto’s and dumpsters to aerial equipment, all the way to Earth moving equipment. There's a better way to rent construction equipment - one that utilizes technology to bring renters and suppliers together to do business fairly. ProsRent is passionate about providing technology and online tools that help you stay ahead of the competition, constantly continue to innovate your business to find efficiencies and, ultimately, better effectively serve your clients.
Learn more at https://prosrent.com/.
Lighter Capital is the pioneering leader in founder-friendly, non-dilutive financing. Since 2010, we have provided hundreds of millions in funding to over 500 US, Canadian, and Australian tech companies. Founders achieve success on their terms with our tech-enabled financing because it has no hidden fees, equity, warrants, or covenant requirements. The application process takes minutes and requires no pitch deck. Beyond financing, our “more than money” benefits provide founders with access to invaluable connections within the Lighter Capital Community, resources, and product discount opportunities. For more information on Lighter Capital, please visit https://www.lightercapital.com. To apply for non-dilutive financing, please go to https://www.lightercapital.com/apply/.
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