TRACTOR ZOOM LANDS $5M TO CREATE A BETTER EQUIPMENT SHOPPING EXPERIENCE USING DATA AND TECHNOLOGY
Investment will enable Des Moines-based startup to accelerate product development to meet increased market demand for a more streamlined equipment transaction process
URBANDALE, IA, October 3, 2022. Tractor Zoom, a data company that helps people find and value farm equipment, and get pre-approved to finance it through a streamlined experience, today announced the completion of a $5 million dollar Series A funding round. The oversubscribed funding round, which was co-led by Builders VC of San Francisco, CA and Bienville Capital of New York, NY, will allow the company to make significant investments in product innovation and data science to continue connecting its users to the information they need to make more informed buying decisions.
“This funding will allow us to continue our mission of helping leaders make empowered, data-driven decisions when it comes to buying, selling, financing, and insuring heavy equipment,” said Kyle McMahon, CEO and Founder of Tractor Zoom. “We set out to bring transparency to heavy machinery data and we remain invigorated by the prospect of continuing this work and helping our customers solve their biggest pain points when it comes to finding, financing, and valuing equipment.”
Additional participation in the Series A funding round came from Next Level Ventures and Wintrust Ventures, as well as follow-on from existing investors Innova Memphis, HPA, ISA Ventures, Ag Ventures Alliance, and strategic angel investors.
Since receiving $3M in funding in 2020, Tractor Zoom has added over 1,450 equipment suppliers to its marketing platform and grown its user base by 400%. Additionally, the data and insights Tractor Zoom provides to its users on heavy equipment is now powered by over $20 billion in equipment sales, a 14x increase from 2020, making it the fastest-growing, most-transparent heavy machinery database in the industry. Further enhancements to its existing B2B SaaS product, Iron Comps, and launching the agriculture industry’s first finance marketplace have helped fuel this growth and recognition among other agtech companies. The company received The Prometheus Award for Startup Technology Company of the Year and AgTech & BioTech Company of the Year in 2020 and 2021, respectively, from The Technology Association of Iowa.
“The heavy equipment industry is primed to benefit from data transparency and digital transformation,” said Mark Blackwell, General Partner of Builders VC. “We believe Tractor Zoom not only has the vision to transform the way the industry buys, sells, and values heavy machinery but the drive to make it happen.”
To learn more about Tractor Zoom, please visit www.tractorzoom.com.