Our goal is to help buyers navigate this fragmented market more effectively, which helps sellers sell more trucks and equipment faster.
CHATTANOOGA, Tenn. (PRWEB) May 23, 2018
Used Equipment Guide, the world's largest used heavy equipment and truck search engine, announced that it has raised a multi-million dollar seed round at a valuation exceeding $10 million. Led by HOLT Ventures, the venture capital arm of the largest Caterpillar dealer in the United States, the oversubscribed round includes strategic investments from a consortium of heavy equipment and truck dealers including Rush Enterprises, Doggett Equipment Services Group, NC Machinery, Tractor & Equipment Company, Carter Machinery, Empire Southwest, Warren Equipment Company, Fabick CAT, and Yancey Bros. These investors are among the oldest and largest dealers of marquee brands including Caterpillar, Peterbilt, John Deere, Freightliner, International Trucks, Link-Belt Cranes, and Toyota Industrial Equipment.
Used Equipment Guide is a vertical search engine that allows buyers and sellers to search millions of used equipment and truck listings from over 3,000 industry websites valued at over $50 billion. The company’s mission is to create liquidity in the heavy equipment and truck marketplace by more efficiently connecting buyers with online resources that sellers have been using for decades to market their available inventory.
The Used Equipment Guide website, https://usedequipmentguide.com, provides robust search tools that enable buyers to locate low volume, highly specialized items, research market prices, and leave seller reviews. The website features free buyer tools including email alerts, seller reviews, a market price calculator, and heatmaps. Sellers can claim their profile to manage their reviews and promote their brand with highly targeted advertising.
The company is led by Jeremy Balog (Founder & CEO) and David Lilly (COO). Jeremy is the founder of dieseljobs.com, the largest niche job board for trucks and equipment, and David is a co-founder of AutoTrader.com, one of the largest automotive marketplaces in the world.
“We have extensive experience in the online classifieds industry and the incumbent listing sites in our industry already do an outstanding job with online listings, print distribution, and inventory management tools,” said Jeremy. “However, the problem in our industry is that there are so many companies that excel at providing services to sellers that it has fragmented the market, making it more difficult for buyers to find the right equipment efficiently—requiring them to visit multiple websites to see all available inventory. Our goal is to help buyers navigate this fragmented market more effectively, which helps sellers sell more trucks and equipment faster without disrupting or disintermediating the incumbent listing sites—we don’t compete by hosting listings, nor will we ever. This triple win strategy is how we were able to secure investment from some of the biggest names in the industry.”
Looking for equipment on the go? Search “UEG” on Google Play, the App Store, or visit http://ueg.io/app to download the mobile app.
About Used Equipment Guide
Used Equipment Guide is the largest used equipment site in the world, connecting buyers and sellers from Alabama to Zambia and everywhere in between. The company was founded in Asheville, North Carolina in 2015 and relocated its main office to Chattanooga, Tennessee in early 2018. https://usedequipmentguide.com
About HOLT Ventures
The Holt family has a long legacy of innovation in the industrial business space, dating back to the early 1900’s when Benjamin Holt invented the track-type tractor, which was later named the Caterpillar. Today, the Holt family works alongside Caterpillar Inc. to deliver market-leading solutions through their heavy equipment dealership, HOLT CAT®, which is the largest Cat® tractor and engine dealer in the United States. Holt Ventures strives to continue the legacy of innovation by investing in technologies and bright minds that are focused on solving challenges in our business. http://www.holtventures.com