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It hasn\u2019t even been a year since EquipmentShare<\/a> raised a Series A round<\/a> of funding, but the \u201cAirbnb of construction rentals,\u201d has closed a $26 million Series B round. The Columbia, Missouri-based startup helps contractors rent out their under-utilized equipment, or rent safety tested equipment that they need from a fellow contractor.<\/p>\n Last year, EquipmentShare also launched a telematics system for contractors called ES Track<\/a> that allows them to automatically gather data about their equipment, whether it\u2019s parked, being used on a job, or rented out. The data is displayed on a digital dashboard that\u2019s easy to read on a mobile device or PC.<\/p>\n The company sends technicians out to install the ES Track system on contractors\u2019\u00a0equipment to get them started. The system, and installation service, has helped contractors get ready for a new federal regulation set to take effect later this year, called the ELD rule<\/a>, which requires drivers to use \u201celectronic logging devices,\u201d to record driving time, hours of service and more about their fleets.<\/p>\n EquipmentShare\u2019s co-founders, brothers William and Jabbok Schlacks, said they intend to use their new capital to expand into new markets across the US, and to develop predictive analytics for contractors. Comparing an\u00a0excavator or a crane\u2019s performance data against a huge database of historic records, EquipmentShare can surmise\u00a0when equipment is about to break down. The idea is to help contractors avoid dangerous and costly problems like a blown engine, but also\u00a0help them allocate\u00a0maintenance work only as-needed.<\/p>\n The Series B round of funding, led by Insight Venture Partners<\/a> with Romulus Capital<\/a>, included $6 million in shares that converted from an earlier Series A round and $20 million in new capital. Y Combinator<\/a> also invested.<\/p>\n Sensors and predictive analytics\u00a0go well beyond the original marketplace that EquipmentShare\u00a0created. Its evolution into a higher tech entity is one reason that Romulus re-upped its investment in the company, through its Romulus Growth fund.\u00a0Romulus General Partner Neil Chheda <\/a>said, \u201cEquipmentShare has found a way to make assets more efficient with technology, in an industry that hasn\u2019t historically embraced it,\u201d he said.<\/p>\n Including construction equipment, tools and\u00a0equipment for\u00a0special events, the American Rental Association\u2019s <\/a>ARA Rental Market Monitor expects the overall equipment rental market to top $51.8 billion this year in North America.\u00a0The sizable market has drawn more than EquipmentShare to the industry. Competitors to EquipmentShare include Caterpillar-backed Yard Club, \u201cequipment concierge\u201d Getable, and Dozr in Canada.<\/p>\n <\/p>\n