Gent-based Cheqroom has raised $15 million in a Series A funding round that will see the company expand operations in the U.S. and open an innovation hub in Spain Prior to this round the Belgian startup had taken on just $300,000 in external funding, acquired in a seed round in 2014.
According to Cheqroom CEO and founder Vincent Theeten, “The process of managing inventory is largely still done via Excel or pen & paper.”
Offering a soup-to-nuts software solution that includes equipment checkout, booking, maintenance, scheduling, and reporting features working in tandem with asset management and tracking functionalities, it would seem as though, while niche, Cheqroom has replaced this nightmare with a sound night’s sleep.
“Cheqroom has solved this problem and emerged as a leader in the equipment management market by delivering hard ROI to their customers: decreasing equipment loss and downtime, improving equipment useful life visibility, and enhancing the productivity of media and live event production teams,” commented investor Level Equity’s Charles Chen.
Counting Amazon, Google, DJI, Airbnb, VICE, ESPN, Fox Sports, and Electronic Arts amongst its client base, Cheqroom intends to use a portion of the new funding to not only build upon its success but begin branching out into new verticals.
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