- Hitched, marketplace for industrial rental equipment to the oil and gas, construction, and industrial industries, announced it has closed a $5.5 million Series A round of funding
Hitched, a marketplace for industrial rental equipment to the oil and gas, construction, and industrial industries — announced the close of its $5.5 million Series A funding round led by Cottonwood Venture Partners.
Launched in 2018, Hitched provides rental and service companies with the capability of hosting, chartering, and managing equipment through an intuitive centralized platform.
“It is encouraging to see the support and excitement from CVP,” said Hitched founder and CEO Adam Gilles. “With this Series A funding, we plan to continue to shake things up in the oil & gas, construction, and industrial industries.”
The Series A round of funding enables Hitched to accelerate its product development, enhance the customer experience, and continue to reinvent the industrial rental marketplace. And Hitched provides many benefits to end-users including one-touch and on-demand rentals comprising of forklifts, generators, cranes, etc. Plus it offers examination and evaluation of product capabilities and revenue summaries comprised of all assets including crew members, products, and equipment.
“We’re delighted to partner with the Hitched team. The industrial rental segment is incredibly opaque and riddled with inefficiencies. The Hitched platform provides both a transparent marketplace and an important management tool that allows both the renter and rentee to optimize rental inventory,” added Ryan Gurney, Managing Partner of Cottonwood Venture Partners.
