Five years ago, Neeral Shah founded YardLink when his background in providing trade finance for construction buyers merged with his experience at a fast-growing tech startup. 

Today, that ‘aha’ moment is named one of The Deloitte Technology Fast 50 Growing Companies in the UK. The ranking is based on percentage revenue growth over the last four years, and we have grown 753% during this period.

This proud achievement is thanks to all our superstar team members, customers, suppliers and investors who took a chance on us and the idea that a digital marketplace could make construction projects run more efficiently. 

This is just the beginning for YardLink as we continue to grow, innovate, and use technology to build faster, more connected, sustainable construction supply chains. We can’t wait to see what 2024 brings. 

A word from our Founder and CEO, Neeral Shah:

“Back in 2018, we launched YardLink because we knew supply chain inefficiencies were an outsized cost to construction businesses. The industry had been slower to adopt digital tools, with many businesses using manual and time-consuming processes. For us, that lack of digitisation represented an opportunity for innovation. 

I’m proud to see how our team has been at the forefront of the tech revolution in the industry. Our digitisation of the supply chain has already made a huge difference to the bottom line of thousands of construction firms. I’m confident that being recognised as one of the UK’s Fast50 will pave the way for YardLink to have an even more transformational effect on the industry next year.”

Huge congrats to all 2023 winners, including Allica Bank, Yoto, Hypervolt and many more.

Today marks an important milestone for the YardLink Team as we announce our USD 17.5M Series A fundraise, a significant investment that will fuel our continued growth into new product categories, services and geographies. 

But for me personally, today is about more than just funding. It’s also about sharing our mission to reimagine construction procurement and become the construction industry’s most trusted supply-chain partner. 

I started YardLink four years ago to solve a major challenge faced by many construction businesses – how to access a reliable, transparent and sustainable supply chain. With access to the YardLink supplier network, construction businesses can now source a full range of products nationwide, as well as track their orders and spending on our user-friendly digital platform. Our hyper-local network enables customers to source products closer to their sites, significantly reducing their carbon footprint. We’ve remained committed to our mission and have served over 3,000 companies and 10,000 construction sites across the UK – and counting!

With our Series A funding, we will be able to vastly expand on the work we have already started. For our customers, we will launch more services and build technology to enable you to take control of your procurement like never before. For our suppliers, we will make it even easier for you to provide your goods and services, win more work and grow your businesses. It’s an exciting time, and it’s still only the beginning. 

So, to everyone that has been with us – our incredible team, customers, supply partners, investors and stakeholders – thank you. We’ve loved the journey so far and can’t wait to share what we have planned next!

Read the full article on our Series A funding round here: Construction equipment marketplace raises a $17.5M Series A led by Beringea

Neeral Shah Founder & CEO

This article was originally posted on UK Tech News on November 17, 2020.

YardLink raises £1.7m to power a faster, more efficient construction industry

• YardLink helps the construction industry move faster by speeding up equipment rental
• £1.7m round led by Speedinvest Network Effects to scale up operations and further enhance its platform
• A more efficient construction industry could be worth $1.6 trillion to the world economy
• The Covid-19 pandemic has spurred growth for the startup, with 4x monthly revenue growth since March

LONDON, UK: YardLink, a UK startup serving the construction industry, has raised £1.7m in a round led by the Speedinvest Network Effects investment team with participation from FJ Labs. It brings the total raised by the company to £2.4m.

YardLink is transforming the expectations of construction companies by allowing them to obtain critical equipment like excavators, site cabins and aerial platforms much faster than traditional equipment rental companies. YardLink focuses on offering the highest availability of local equipment, at the best price. The startup’s network of more than 100, fully-vetted suppliers with over 1,400 equipment depots across the UK means YardLink can guarantee next day delivery on core equipment, and arrange delivery within a third of the distance of more established competitors.

Faster equipment deliveries minimise downtime on construction sites, helping jobs get finished on time. And it’s the impact this speed can have that demonstrates YardLink’s real potential. A more efficient construction industry could be worth $1.6 trillion to the world economy, according to the McKinsey Global Institute.

YardLink has served 3,000 UK construction projects since April 2018. Projects can span anything from a new house build lasting 12 months, to a large multi-year infrastructure project, and the company rents multiple types of equipment to a single project.

Covid-19 spurs growth for YardLink

The pandemic has been challenging for the construction sector, but as work on sites resumed earlier in the year, YardLink’s flexible network of suppliers and digital-first approach allowed it to serve the industry’s evolving demands. This has contributed to the company seeing 4x growth in monthly revenue since lockdown began in March this year.

“The construction industry faces new guidelines to prevent the spread of coronavirus, such as having to provide portable site cabins and accommodation for its workforce. This, coupled with tight availability in the market and more demand for renting equipment, rather than buying it, has helped us prove our worth across the UK,” says YardLink founder and CEO Neeral Shah. “Using technology to better coordinate and speed-up the supply chain is having a real impact on productivity within the industry at a difficult time.”

YardLink will use the new funding to expand its sales, operations, and technical teams, and to further develop its equipment rental platform’s footprint across the UK ahead of later international expansion. In the future it plans to digitise more of the construction procurement workflow to help drive even greater efficiencies.

“We’re excited to invest in YardLink at a time when the construction industry is going through rapid transformation and is in desperate need of innovation,” says Mathias Ockenfels, Lead Partner at Speedinvest Network Effects. “With a flexible, highly automated and scalable product, Neeral and his team are in prime position to sustainably transform construction procurement with a platform approach.”

This article was originally posted on TechCrunch on November 17, 2020.

YardLink allows construction companies to obtain critical equipment faster than traditional equipment rental companies. It has now raised a £1.7 million seed round, bringing its total raised to £2.4 million. The round was led by Speedinvest Network Effects, with participation from FJ Labs.

Construction sites often have to hire equipment, but the centralized nature of the traditional hire market means suppliers can be slow to deliver, leading to downtime on-site and delayed projects. Traditional suppliers include HSS Hire, Travis Perkins, Speedy Hire and Sunbelt Rentals. But YardLink aims to speed up this process with a digital-first, marketplace approach. It has a network of 100 suppliers with more than 1,400 equipment depots across the U.K.

The construction industry faces new guidelines to prevent the spread of coronavirus, such as having to provide portable site cabins and accommodation for its workforce. This is coupled with tight availability in the market and more demand for renting equipment, rather than buying it.

The global market for construction equipment rental is around $70 billion.

The team consists of Neeral Shah (founder and CEO), Matt Bloor (CCO) and Daniel Morris (CTO).

This article was originally posted on UK Tech News on November 17, 2020.

Based out of London, YardLink is a B2B procurement platform for the construction industry. Recently, the company raised £1.7M in a round led by Speedinvest Network Effects with participation from FJ Labs. This brings the total raised by the company to £2.4M.

Product development, international expansion, and more

YardLink intends to use the funding to expand its sales, operations, and technical teams, and to further develop its equipment rental platform’s footprint across the UK ahead of later international expansion. On top of that, the company is also planning to digitise the construction procurement workflow for more efficiencies as well.

“The construction industry faces new guidelines to prevent the spread of coronavirus, such as having to provide portable site cabins and accommodation for its workforce. This, coupled with tight availability in the market and more demand for renting equipment, rather than buying it, has helped us prove our worth across the UK,” says YardLink founder and CEO Neeral Shah. “Using technology to better coordinate and speed-up the supply chain is having a real impact on productivity within the industry at a difficult time.”

Improving the way construction equipment is rented

Founded by Neeral Shah in 2018, YardLink is improving the way construction equipment is rented. The platform helps building contractors find and rent equipment quickly, easily, and cost-effectively from a network of trusted suppliers. Through the single account, contractors can source and manage a range of kits, from excavators to boom lifts, 24/7.

The startup has a network of more than 100, fully-vetted suppliers with over 1,400 equipment depots across the UK. According to the McKinsey Global Institute, a more efficient construction industry could be worth $1.6 trillion to the world economy.

Witnessed 4X growth in pandemic

Amid the pandemic, YardLink witnessed 4X growth in monthly revenue since lockdown began in March this year. To date, YardLink has served 3,000 UK construction projects since April 2018. As per the company claims, projects can anything from a new house build lasting 12 months to a large multi-year infrastructure project.

We’re excited to invest in YardLink at a time when the construction industry is going through a rapid transformation and is in desperate need of innovation,” says Mathias Ockenfels, Lead Partner at Speedinvest Network Effects. “With a flexible, highly automated, and scalable product, Neeral and his team are in prime position to sustainably transform construction procurement with a platform approach.”

YardLink, a technology firm, has secured funding from Innovate UK to build a scalable platform that enables construction companies to speed up procurement and reduce the costs of equipment rental.

The platform provides buyers and site managers with immediate access to thousands of trusted equipment depots across the UK, and automates key stages of the procurement process. Customers who rely on quick response times can now source the right equipment at the right price, within a matter of minutes.

“Construction is still one of the least digitised sectors in the economy. Our technology simplifies a complex and often opaque process that can take customers hours or even days to complete,” said YardLink CTO Daniel Morris.

Innovate UK, as part of UK Research and Innovation, is investing up to £191 million to fund single and collaborative research and development projects as part of the Sustainable Innovation Fund over the next two years. The aim of these competitions is to help all sectors of the UK rebuild after the effects of COVID-19.

The Sustainable Innovation Fund is funding 1,103 projects, 1189 UK businesses and totalling over £130 million in support across the UK.

YardLink Founder and CEO Neeral Shah said:

“We’re thrilled to be a recipient of the Innovate UK grant at a time when digital transformation in the construction industry is more attainable than ever before. This award provides further confidence in our mission to digitise the construction supply chain to simplify procurement and help complete projects on time and on budget.”

Innovate UK Executive Chair Dr Ian Campbell said:

“In these difficult times we have seen the best of British business innovation. The pandemic is not just a health emergency but one that impacts society and the economy.

YardLink, along with every initiative Innovate UK has supported through this fund, is an important step forward in driving sustainable economic development. Each one is also helping to realise the ambitions of hard-working people.”

About YardLink

YardLink makes equipment rental fast, simple and cost-effective. Through a single platform, construction companies get access to a network of highly-vetted rental companies across the UK, enabling them to find, check availability and rent equipment within minutes.

About Innovate UK

Innovate UK drives productivity and economic growth by supporting businesses to develop and realise the potential of new ideas.

Innovate UK connects businesses to the partners, customers and investors that can help them turn ideas into commercially successful products and services and business growth.

Support is available to businesses across all economic sectors, value chains and UK regions.

Innovate UK is part of UK Research and Innovation. For more information visit www.innovateuk.ukri.org