YardLink is a construction industry digital procurement platform located in London and raised $17.5 million for its Series A round. The round was led by Beringea, which also invested in Luxury Promise and WiredScore. Additionally, Amplifier, FJ Labs and Speedinvest participated in the funding round.
Thanks to the funding from this UK company, its products can be expanded to provide long-term success in its market niche. YardLink actually plans to double its headcount in the future.
Digital Procurement Platform
In 2018, Neeral Shah founded YardLink. It is a business to business marketplace, which aims to streamline the $1TN construction industry. The platform instantly connects construction companies with suppliers who provide equipment, materials and services.
Through a single digital platform, users can book suppliers, pay them directly and source them all in one go.
The company claims environmental benefits by connecting approved local suppliers to every project. It also claims streamlining the procurement process helps lower every project’s carbon footprint.
Construction companies have a difficult time digitizing their supply chain because most transactions are done over phone, email and pen and paper. This makes it hard to coordinate multiple suppliers and their deliveries across time-constrained projects. YardLink helps customers manage their entire supply chain by connecting them to their supply chain on a single digital platform. This helps construction companies streamline procurement, which in turn leads to decreased project delays and higher profit margins.
The company has worked with thousands of clients including Battersea Power Station, Canary Wharf Contractors and HS2.
Over 500 vetted suppliers provide contractors with access to tools, equipment, bulk materials, fuel and more. These focus changes from heavy equipment rental to instant access to contractors’ preferred suppliers.
YardLink is a construction materials and equipment rental marketplace run by Neeral and his team. Maria Wagner, a business associate at Beringea, supports the idea that YardLink could become the go-to place for construction supplies and equipment. The reason is because supply and demand are fragmented in the construction industry, making YardLink an attractive market choice. Joining the group on their environmental stewardship journey excites us! The efficiency of the process also makes it more resource friendly.