Hitched, Inc. Secures $5.5 Million Series A Funding Led by Cottonwood Venture Partners
Jan 07, 2020, 10:00 ET
HOUSTON, Jan. 7, 2020 /PRNewswire/ -- Hitched, Inc., a marketplace for industrial rental equipment to the oil & gas, construction, and industrial industries, announced today the close of its Series A funding led by Cottonwood Venture Partners ("CVP"), a growth equity firm that partners with technology companies providing digital solutions for the energy industry.
Founded in 2018, Hitched provides rental and service companies with the capability of hosting, chartering, and managing equipment, all in an intuitive, centralized platform. The Series A financing allows Hitched to accelerate its product development, enhance the customer experience, and continue to reinvent the industrial rental marketplace.
Hitched provides many benefits for end-users:
- One-touch, on-demand rentals comprising of forklifts, generators, cranes, and more;
- Examination and evaluation of product capabilities;
- Revenue summaries comprised of all assets including crew members, products, and equipment; and
- Secure authentication and payment.
"It is encouraging to see the support and excitement from CVP," expressed 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."
Ryan Gurney, Managing Partner of CVP, added, "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."
To learn more about Hitched's marketplace, products, and features, visit https://www.hitchedapp.com.
About Hitched, Inc.
Hitched is the industrial rental marketplace striving to make life easier by connecting the best equipment and services to the people who need it. From generators to light towers, pumps to forklifts, use Hitched to pair your company with reliable rental suppliers and eliminate the hassle of logistics through the use of in-app platforms. For the latest Hitched news, visit https://www.hitchedapp.com.
About Cottonwood Venture Partners
Cottonwood Venture Partners ("CVP") is an investment firm partnering with technology companies that provide digital solutions for the energy industry. CVP invests in technology companies that have achieved early customer adoption and require capital to accelerate growth. CVP leverages its expertise and relationships in energy and technology to help drive growth at its portfolio companies. For more information, please visit https://www.cottonwoodvp.com.
SOURCE Hitched, Inc.
