Tobly Inc.

Marketplace For Construction Equipment Rentals

Company Information

Website:

https://www.tobly.com/

Sector:

Construction

Location:

New York, NY

Tobly has created a digital marketplace designed to modernize the $50 billion construction equipment rental industry.

Since launching in 2016, the company has processed nearly $1 million in equipment rentals, and received funding from notable investors including FirstRock Capital, Green Egg Ventures, and Delaware Crossing Investment Group.

Today, the construction rental industry suffers from inefficiencies and a lack of transparency — both of which increase the cost of doing business.

For those looking to rent construction equipment, pricing is rarely found online. And when found, it’s often incomplete or difficult to understand. Renters are forced to contact several suppliers in order to obtain pricing and availability.

Tobly solves these issues with its platform designed to benefit renters and suppliers — for example:

For renters, Tobly’s platform offers real-time equipment availability and instant price quotes. In addition, the platform can collect relevant information and upfront payment to complete bookings in just a few minutes.

Suppliers, meanwhile, can use the platform to attract new business without spending more on sales and marketing efforts.

Within the construction rental equipment industry, Tobly is targeting the $9 billion market for access platforms. These include machines like boom lifts, forklifts, and scissor lifts.

The company’s customers are mainly in industries such as facilities management, construction, and video production. According to Tobly, companies in these industries spend hundreds of thousands of dollars on equipment rentals each year.

Here’s how the process works:

Renters find the equipment they need and book online through Tobly’s marketplace. Tobly then assigns the deal to one of its preferred equipment suppliers. The suppliers offer Tobly discounted rates, enabling it to keep a percentage of the transaction price. The company also generates revenue through services including equipment rental protection and training.

Under this business model, the average transaction is $1,405, and Tobly achieves 30% gross profit margins. The company’s customer acquisition cost is $360, while its lifetime value is approximately $2,500.

Tobly has notable customers including HBO, Apple, and Global Facilities Management. In addition, the company has partnerships with United Rentals, Sunbelt Rentals, and several local and regional suppliers.

Tobly graduated from NYC’s AREA accelerator, a program for early-stage companies applying new technology-based approaches to solving real estate problems.

Currently, Tobly’s marketplace is active in Los Angeles, New York, and Miami. Moving forward, the company aims to expand to metro areas including Atlanta, Chicago, Dallas, Philadelphia, and San Francisco.

Additional future plans include expanding its marketplace offerings to include 3D printing equipment, autonomous equipment, and drones. At the same time, Tobly plans to expand to industries including agriculture, industrial, and residential.

Team Background

Tana Gonzalez - Co-Founder & CTO

Tana has more than a dozen years of experience as a software engineer.

Prior to starting Tobly, he was an Android developer for yTasks, a mobile app for managing tasks.

For seven years, he worked as a software engineer and full stack web developer for La Caja de Canarias, one of the largest banks in Spain.

Tana earned a degree in Computer Engineering from the University of Las Palmas de Gran Canaria.

Pablo Carvallo - Co-Founder & CEO

Pablo has spent more than a decade in the construction industry.

He formerly served as a partner of YY200, a real estate development company based in China.

Prior to that, he founded Center for Sustainability, a private educational institute offering programs for college students and young professionals.

Pablo was Project Manager and later Business Development Manager for Baron Engineering Solutions, a construction company based in Venezuela.

He earned a Bachelor’s degree in Economics from the University of Oklahoma, an MBA from Jiao Tong University of Shanghai, and a Master’s in Environmental Engineering form Tongji University.

Co-Investors

Green Egg Ventures

A venture capital firm investing in early-stage companies. Portfolio includes Bixby (a hospitality platform for urban residents), and Pinn (a cyber security company).

Delaware Crossing Investment Group

A group of entrepreneurs providing advice and capital to early-stage companies. Portfolio includes Preclick (a software company focused on organizing and sharing photos that was acquired by Smilebox), and Sequenom (a biotech company focused on detecting cervical cancer that was acquired by SensiGen).

Firstrock Capital

A venture capital firm investing in early-stage tech companies. Portfolio includes Payfully (financial services company for the peer-to-peer marketplace) and Meural (a media platform connecting artists that was acquired by NETGEAR).

Raising
$1 million
Committed
$106.6K (11%)
Current Valuation
$5 million Cap / 0% Discount
Min. Investment
$1000
Deal Type
Title III
(For all investors)
Offering Type
Convertible Debt
Finance History
  • $75K
    2014-08-08
    Unknown
  • $295K
    2017-07-17
    Unknown
  • $95K
    2018-01-10
    Unknown
Notable Investors
  • Green Egg Ventures
  • Delaware Crossing Investment Group
  • Firstrock Capital
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