Gearflow, a web platform that makes it easier for construction equipment owners to connect with their parts suppliers, announced a $5.5-million round led by Brick & Mortar Ventures to help fleets eliminate downtime and maximize their profitability.
The investment will be used to further develop Gearflow’s solutions for the entire heavy equipment parts supply chain, including equipment owners, dealers, distributors, and OEMs.
“At Gearflow, we’re helping construction equipment fleet managers break free from the madness around parts,” said Luke Powers, CEO and founder of Gearflow. “The staggering costs of downtime due to limited supplier access, manual parts sourcing, and human error are crippling productivity in construction.”
Powers continued, “We believe mixed equipment fleets can control the chaos and operate more efficiently with a digital experience that’s designed to work seamlessly within the current ecosystem of end users, distributors, and manufacturers.”
Gearflow is addressing those pain points by modernizing parts commerce in one easy-to-use platform that supports automated parts requests to existing and alternative vendors, live messaging and order management, and real-time repair and maintenance reports.
The platform’s nearly 4,000 users to date include contractors, rental companies, energy/utility fleets, government fleets, service shops, and more, all seeking to make the parts procurement process easier with a single source of truth.
With Gearflow, equipment owners are cutting the time it takes to locate parts from days down to minutes, while instantly consolidating all communications, invoicing, and costs across their mixed fleets. One national rental company saved more than $312K in its first 90 days with Gearflow.
Heavy civil contractor Branch Civil Inc., part of the Branch Group based in Roanoke, Virginia, is an early user of Gearflow that sees how automation can impact their fleet’s bottom line.
"We’re working with Gearflow to help us consolidate our parts sourcing options, maintenance workflows, and cost data to ultimately reduce our mechanics’ administrative time and the downtime on our equipment, as well as simplify our invoicing,” said Tim Morgan, equipment operations manager at Branch Civil and chairman of the board for the Association of Equipment Management Professionals.
“At Branch Civil, our equipment operations are a differentiator in job profitability, and we’re a strong believer in implementing digital tools that help us increase those margins,” Morgan said.
Brick & Mortar Ventures, the leading venture capital firm exclusively focused on supporting emerging technology that improves the construction industry, is joined by Alumni Ventures, as well as existing investors Newark Venture Partners, Watchfire Ventures, and Liquid2 Ventures as participants in the funding.
This latest round of capital brings the total amount of funding that Gearflow has raised to $10.1 million, since its founding in 2018.
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