A New York City-based startup transforming the construction equipment rental marketplace is looking to scale into new cities. Since early 2016, Tobly has been growing quickly in New York’s construction equipment rental market by allowing contractors to find the equipment they need and book instantly through an online platform.
CEO Pablo Carvallo founded Tobly after experiencing how difficult it was to search for a piece of construction equipment. Contractors often have to call multiple suppliers one by one to locate the piece they’re looking for and obtain quotes. Last year, Tobly was one of six startup accepted into Manhattan-based real estate technology accelerator AREA. The accelerator provided a mentoring program and some funding which helped Carvallo prepare his company to scale into other cities. Now Tobly has its sites set on Miami.
“Florida’s growing commercial and industrial development scene provides a fertile climate for Tobly as it continues to expand its national operation,” said Carvallo. “In Florida, Tobly already has more inventory than United Rentals and Sunbelt with more supplier partnerships being added daily.”
According to Carvallo, the company has been experimenting with new markets since early this year and now has a formula to really accelerate the speed in which it enters new markets. By focusing on making the rental process far more efficient and easier than traditional means, Tobly claims to be able to guarantee real-time pricing and availability with no hidden fees. With its unique, cloud-based solution, Tobly eliminates construction rental hassles and helps small and medium sized companies maintain a market share against industry giants.
“One of our missions at Tobly was to provide access to family-run businesses and startups looking to grow with us. Enterprises like United Rentals, Sunbelt, Herc own about 20% of the rental equipment inventory, yet smaller suppliers remained unknown and out of reach for contractors and worksites until now,” Carvallo said.
With rapid growth in New York and the expansion into Miami, Tobly has begun preparing for a national rollout by the end of the year.