Holt Ventures Invests $750,000 in Used Equipment Guide Website
Holt Ventures, the corporate venture capital arm of Holt Cat, announced a $750,000 investment in Used Equipment Guide, which Holt said is the world’s largest used heavy equipment and truck search engine. Used Equipment Guide’s seed round, led by Holt Ventures, raised the majority of its capital from a consortium of Caterpillar dealers in the United States.
“Used Equipment Guide is a prime example of the innovative companies Holt Ventures wants to partner with when considering our investment options,” said Peter J. Holt, Holt Cat CEO and member of the Holt Ventures advisory committee. “Their dynamic vision to create an expansive marketplace focused on the equipment- and truck-buying experience is revolutionary, which fits perfectly with our core values.”
With access to more than 2,500 of the largest dealer for-sale and auction websites, Used Equipment Guide provides users with a database of used construction equipment, agricultural equipment, cranes, on-highway trucks, lift trucks, industrial engines and electrical power generation equipment in a single search.
Founded in 2015 by CEO Jeremy Balog, 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.
“Holt Ventures is very excited to add Used Equipment Guide to our growing portfolio,” said Adam Bridgman, partner of Holt Ventures. “The investment is in line with our strategic approach to invest in companies that are innovating in our industry and solving challenges in the daily operations of our business.”
Used Equipment Guide was founded in Asheville, N.C. in 2015 and relocated its main office to Chattanooga, Tenn., in early 2018.
