Gearflow secures growth investment

By Leila Steed06 December 2022

Gearflow co-founders Ben Preston and Luke Powers. Gearflow co-founders Ben Preston (left) and Luke Powers. (Photo: Gearflow)

Online parts platform Gearflow has secured US$5.5 million of investment to help it grow. 

A recent funding round saw the US-based company secure investment from a group led by Brick & Mortar Ventures (BMV), a venture capital firm focused on “emerging technology that improves the construction industry”.

BMV along with Alumni Ventures and Gearflow’s existing investors - Newark Venture Partners, Watchfire Ventures, and Liquid2 Ventures - are providing the funds.

The investment will be used to further develop Gearflow for the entire heavy equipment parts supply chain, including equipment owners, dealers, distributors, and OEMs.

Luke Powers, CEO and founder of Gearflow, said, “At Gearflow, we’re helping construction equipment fleet managers break free from the madness around parts.  

“The staggering costs of downtime due to limited supplier access, manual parts sourcing, and human error are crippling productivity in construction.

“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.”

The Gearflow platform on smart pad, desktop and phone The Gearflow platform will be expanded for users of heavy equipment. (Photo: Gearflow)

Gearflow said its digital platform, which currently has almost 4,000 users, consolidates “all communications, invoicing, and costs” for managing mixed fleets into a single “platform that supports automated parts requests to existing and alternative vendors”.

Incorporating live messaging, order management and real-time repair and maintenance reports, the online platform brings together equipment owners, distributors and manufacturers. 

Current users of the web service including contractors, rental companies, energy/utility fleets, government fleets and service shops.

Darren Bechtel, founder and managing director of BMV, said, “The intuitive and purpose-built platform allows all of the stakeholders in the supply chain to focus on growing their businesses and the things they do best.

“We are thrilled to invest in Gearflow and help them on their mission to connect the global parts supply chain for heavy equipment.”

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, Access, Lift & Handlers Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Featured Training From Easybook
NYC SST Online Training

The clock is ticking… Construction workers in New York City – have you fulfilled your required Site Safety Training (SST)? Get your SST card online now

Latest Events
Rouse Services launches fleet management system
Fleet Manager tool to support machine owners through ‘entire equipment lifecycle’
Deadline to enter SAIA Awards approaching
May 31 is the last day to submit entries for the annual SAIA Project and Member Awards
Your guide to World of Concrete 2023
Set to open Jan. 17, this year’s masonry-focused event features new programs, education and
Off-Highway Research

The gold standard in market research

Off-Highway Research offers a library of more than 200 regularly updated reports, providing forensic detail on key aspects of the construction equipment industry.

Our detailed insights and expert analyses are used by over 500 of the world’s largest and most successful suppliers, manufacturers and distributers, to inform their strategic plans and deliver profitable growth.

Click here to visit our website

CONNECT WITH THE TEAM
Lindsey Anderson Editor, Access, Lift & Handlers Tel: +1 312 929 4409 E-mail: lindsey.anderson@khl.com
Tony Radke Sales Manager Tel: +1 480 478 6302 E-mail: tony.radke@khl.com
CONNECT WITH SOCIAL MEDIA