Creating an equipment rental market
Some contractors experience dry periods when equipment is idle, while others who need to rent equipment spend valuable time searching for it and pay a high price to big rental companies.
Seeing his own landscaping equipment sitting unused during the winter, Kevin Forestell, along with co-founders Erin Stephenson and Tim Forestell, developed a platform to connect contractors who are renting out their equipment with those looking to rent high-quality equipment. Their start-up, DOZR, is an online marketplace for the rental of heavy equipment that lets contractors earn additional revenue from their available equipment or find equipment for rent at lower than normal market rates.
Able to quickly navigate the network of rental partners, DOZR does the search work and cuts the time spent on searching for contractors looking for the best rental package. Utilizing artificial intelligence (AI), the company has developed data acquisition strategies and AI-powered products to drive continued growth in the equipment sharing industry.
Supported through the SmartStart Seed Fund in 2017, DOZR was able to expand its user base to over 3,000 users and launched the platform into three new regions, including the United States. The company has also established itself as North America’s trusted source for heavy equipment rentals.
“Working with OCE gave DOZR the opportunity to create jobs in Ontario and advance our business and technology,” says Erin Stephenson, co-founder and COO at DOZR. “OCE’s support had enabled the company to work faster and more efficiently to advance the economy and efficiencies in the industry through technology and innovation.”
As they work on their plans to advance their platform, DOZR grew its team with the addition of 15 new employees and are focused on improving customer experience and developing strategic partnerships. With the additional $2.5 million follow-on investment they have raised, the company will develop new features and mobile apps, and hire employees for sales, marketing, product and engineering.
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