EquipmentShare IPO
EquipmentShare went public today. The construction tech company raised $747 million in its Nasdaq debut, pricing 30.5 million shares at $24.50 under the ticker "EQPT."
It's a big week for YC exits: just yesterday, Capital One announced it would acquire Brex for $5.15 billion.
Brothers Jabbok and Willy Schlacks founded EquipmentShare in 2014 in Columbia, Missouri, before going through YC's Winter 2015 batch. What began as a peer-to-peer marketplace for construction equipment has evolved into a full-stack platform for managing jobsite operations, combining equipment rental with fleet tracking and telematics software.
EquipmentShare now operates 373 locations across 45 states and employs nearly 7,800 people. The company manages a fleet valued at $8.1 billion, with approximately 235,000 units connected through T3, its proprietary platform for tracking, maintenance alerts, and remote access. Over 90 percent of the top 50 general contractors on Engineering News-Record's 2025 list are customers.
The business generates roughly two-thirds of revenue from rentals and one-third from equipment sales. For the 12 months ended September 30, 2025, EquipmentShare reported $4.4 billion in revenue. According to the founders' letter, the company has been profitable every fiscal year since 2020.
"While today is a celebration of our past decade of growth, our focus remains on solving the pain points of the construction industry through innovation, discipline, and a people-first culture. We are just getting started."
— Jabbok Schlacks, CEOGoldman Sachs, Wells Fargo Securities, UBS Investment Bank, Citigroup, and Guggenheim Securities served as lead book-running managers. Following the offering, the Schlacks brothers retain Class B shares representing approximately 81 percent of total voting power.
The company has indicated that public market capital could help it expand from its current 300-plus locations to 700 nationwide.