# IronPlanet

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ironplanet

- Industry: Internet
- Headquarters: Pleasanton, US
- Website: www.ironplanet.com
- Total disclosed funding: $91M
- Latest round: Series E (Aug 23, 2016)
- Investors on record: 8

## About

IronPlanet, Inc. provides an online marketplace for buying and selling used heavy construction equipment and trucks, enabling access to a wide range of products at competitive prices.Founded in 1999 and headquartered in Pleasanton, California, IronPlanet, Inc. operates in the heavy equipment sector, specializing in an auction platform for used machinery. In August 2016, Ritchie Bros. Auctioneers Incorporated acquired IronPlanet for USD 758.5 mn, a deal completed in May 2017. The company has completed 13 different deals to date. The current CEO is Gregory Owens.IronPlanet specializes in the sale of used heavy construction equipment and trucks, providing a comprehensive marketplace where customers can browse thousands of affordable alternatives to new machinery. The company’s core product offerings include categories such as excavators, dozers, dump trucks, agricultural tractors, and trailers, all backed by detailed inspection reports and IronClad Assurance® certification. This ensures buyers receive reliable information about equipment conditions, facilitating informed purchasing decisions. IronPlanet serves a diverse client base, including construction companies, government agencies, and agricultural businesses across North America, Europe, the Middle East, and Asia-Pacific regions. The company operates a robust online auction platform and marketplace where clients can buy and sell equipment, addressing users' needs for cost-effective heavy machinery solutions.IronPlanet generates revenue primarily through transaction-based sales of used heavy equipment and trucks on its platform. The business model includes online auctions and buy-now options, serving both B2B and direct-to-consumer sales. Customers can purchase equipment directly through the platform, while sellers benefit from tailored solutions that maximize their market reach to over 1.8 million users. The service offerings include exclusive inspection reports and asset appraisal services that enhance buyer confidence. Flagship services like IronClad Assurance® underpin the company’s reputation, ensuring buyers have access to verified equipment information. Overall, IronPlanet's revenue is driven by its extensive inventory and its capacity to connect buyers and sellers in a streamlined marketplace.IronPlanet plans to leverage its recent acquisition by Ritchie Bros. to enhance its online platform and expand into new markets. The company aims to introduce new product lines and improve service offerings in the coming years, although specific product release dates have not been disclosed. Additionally, IronPlanet is targeting expansion into the Asia-Pacific region by 2025, aiming to capture a larger share of the local market. The funding from the acquisition will support these initiatives by facilitating technological upgrades and marketing efforts.

## Funding rounds

- Series E, Aug 23, 2016, $18M — Hercules Capital
- Series D, Jan 7, 2015, $5.5M — Accel, Kleiner Perkins
- Series D, Oct 31, 2014, $15M — Accel, Kleiner Perkins
- Series B, Jul 17, 2000, $0.7M — Accel, Kleiner Perkins, Ignite Group, Windspeed Ventures, Caterpillar Ventures, Marubeni Ventures
- Series B, Apr 28, 2000, $35M — Accel, Kleiner Perkins, Ignite Group, Marubeni, Windspeed Ventures, Caterpillar Ventures
- Series A, Feb 23, 2000, $12M — Accel, Kleiner Perkins
- Series A, Nov 1, 1999, $3.9M — Accel, Kleiner Perkins

## Investors

- Accel (https://capitalatlas.ai/funds/accel) — Series A, Series B, Series D
- Kleiner Perkins (https://capitalatlas.ai/funds/kleiner-perkins) — Series A, Series B, Series D
- Ignite Group (https://capitalatlas.ai/funds/ignite-group) — Series B
- Marubeni — Series B
- Windspeed Ventures (https://capitalatlas.ai/funds/windspeed-ventures) — Series B
- Caterpillar Ventures (https://capitalatlas.ai/funds/caterpillar-ventures) — Series B
- Marubeni Ventures — Series B
- Hercules Capital (https://capitalatlas.ai/funds/hercules-capital) — Series E