Wilmington, NC; June 26, 2017 – KWIPPED Inc., the online B2B equipment rental marketplace, received investment funding in mid-June, 2017 from The Angel Roundtable (ART), an early stage angel investor network located in Johnson City, Tennessee.
In response to the funding partnership, KWIPPED CEO and Co-Founder, Robert Preville said, “We’re not looking for just any investor. Just as investors engage in detailed research and use a stringent due diligence process to vet businesses for potential funding opportunities, KWIPPED uses a vetting process when choosing to partner with investors. The ART investor team is an impressive group of intelligent and successful individuals that collectively possess a diverse range of valuable skills and expertise. More importantly, they’ve proven with their actions they are willing and able to share their expertise and connections and provide proactive support to help our business grow.”
KWIPPED’s online platform facilitates equipment rentals and leases between businesses and organizations that need specialized commercial equipment and a network of 500+ suppliers that have equipment inventory available to rent. KWIPPED offers rentals and leasing in more than 500 equipment categories across 20+ different industries including: medical and laboratory, engineering, audio-visual, construction, surveying, film production, power utility and many more.
“We plan to leverage the funds to substantially expand our sales staff and that’s really exciting because even with our current staff we’ve managed to generate 184% more revenue year-to-date (as of June 20, 2017) than we did in all of 2016. Projections suggest approximately 400% growth from 2016 to 2017,” explained Preville.
Along with its 500+ registered equipment suppliers, KWIPPED also has close to 4,000 registered users, including well-known brands and organizations like: Apple, Inc., Space X, Yale University, The Coca Cola Company, Siemens, Wal-Mart, The United States Navy, Under Armor, BASF, General Dynamics, Black and Decker, The University of Chicago Medical Center and The US Forest Service.
According to ART Managing Director, Tony Lettich, “Across any industry, it’s difficult to think of a job or project that doesn’t require some type of equipment. When purchasing the necessary equipment outright is not feasible or preferable KWIPPED offers a highly efficient, tech-driven solution for equipment rentals and leases. It’s a one-of-kind platform that delivers real value to a wide range of businesses and professionals; and we’re confident it’s going to be a high growth company for years to come.”
About KWIPPED
KWIPPED, Inc. developed and maintains the world’s first comprehensive B2B online rental marketplace. KWIPPED technology streamlines sourcing from a global network of equipment rental suppliers, reduces risk, assures quality and facilitates trusted relationships between renters and suppliers. The Company aims to maintain a trusted marketplace for professionals to locate, discover and rent specialized equipment for commercial applications. KWIPPED’s worldwide headquarters is located in Wilmington, NC. For more information, call 800.273.8404 or visit www.KWIPPED.com.
About The Angel Roundtable
The Angel Roundtable is a select network of successful entrepreneurs, investors and other community and business leaders from NE Tennessee and SW Virginia who provide investment capital, strategic advice and mentoring to early-stage companies to help them achieve market leadership. To learn more about ART visit our website, www.theangelroundtable.com.
Contact: Robin Salter | 800-273-8404 ext. 103 | [email protected]
