Greenville, S.C. – VentureSouth, an early stage investment firm that operates angel investor groups and funds across the Southeast, is pleased to announce that it has led an investment in KWIPPED, Inc., a Wilmington, NC-based online business-to-business equipment rental marketplace.
As an equipment rental facilitator, KWIPPED provides an online platform to businesses and organizations needing to rent specialized commercial equipment. The company assists with rentals in more than 500 equipment categories across 22 different industries and has over $55 million in suppliers’ assets available for rent. Its wide range of applications include medical and laboratory, audio-visual, construction, surveying, film production, power utility, and many more.
“KWIPPED is the first company to offer an online platform for equipment rental in many industries,” said KWIPPED CEO Robert Preville. “We are changing the way equipment is used and are excited that additional resources we now have will accelerate this change.”
VentureSouth anchored this Series A round of growth capital, which will be used to accelerate KWIPPED’s marketing efforts, increase the variety of equipment available for rental, and add sales and technology staff.
VentureSouth managing director Paul Clark explained: “We are delighted to be combining the power of the investors in our network with the impressive foundation that KWIPPED has built. In the same way that KWIPPED pairs commercial equipment inventory with businesses seeking equipment, VentureSouth pairs successful business leaders’ capital with exciting growth companies. The power of putting the right groups together is immense, which is why we are excited about our investment in KWIPPED.”
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