Subject: VEN
Renterra Announces $3 Million in New Funding to Expand Its Modern Operating System for the Equipment Rental Industry
CHICAGO, April 16, 2024 /PRNewswire/ -- Renterra (getrenterra.com), a modern software platform for the $70 billion equipment rental industry, announced today that it has raised $3 million, led by Bienville Capital. This investment will accelerate Renterra's product development, expand its market reach, and enhance customer support services, ensuring that Renterra remains at the forefront of the equipment rental industry's digital transformation. Additional investors participating in the round include Iron Prairie Ventures, Alaris Capital, and select strategic individuals. This round of fundraising brings Renterra's total financing to $4 million.
"We are thrilled to deepen our partnership with Andy, Nick, and the Renterra team. It's been impressive to watch Renterra empower such a large industry with AI-powered software tools and stand-out customer support" said Blake Bennett of Bienville Capital.
Renterra has developed a cloud-based operating system to streamline all aspects of the modern equipment rental company. These offerings are accessible on any device, including a fully-functional mobile application. Additionally, Renterra now offers an Integrated Online Storefront that allows rental companies to bring their businesses online in minutes.
Andy Feis, Co-Founder and CEO of Renterra, expressed his enthusiasm for the future: "We are very excited to be on the forefront of technological innovation in an industry that has historically been wildly underserved. The response from our customers has been overwhelmingly positive and we can't wait to use this capital to continue to bring them the best rental software on the market."
Renterra has seen tremendous growth in its first 18 months, now serving companies across the US and Canada. "Renterra has been hands-down the best investment I have made for my business," said Casey Sorensen, Owner of All Equip Rental in Utah. "It is the only software I have found that incorporates all aspects of my rental business into one convenient location. This is the future of the rental business."
About Renterra
In late 2022, Renterra founders Andy Feis and Nick Hibberd set out to modernize the equipment rental industry. Renterra has since become a leading software provider for the space. Renterra's platform streamlines all aspects of equipment rental, from inventory management and customer relations to analytics and operational efficiency. With a commitment to innovation and customer success, Renterra is dedicated to transforming the equipment rental market for the better. For more information, visit https://getrenterra.com/
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