Thursday, January 20, 2022

2021 Most Disruptive MBA Startups: Gearflow, Northwestern University (Kellogg) - Poets&Quants

Gearflow, Inc.

Northwestern University, Kellogg School of Management

Industry: Construction Tech

Founding Student Name(s): Ben Preston ’21

Brief Description of Solution: Online parts marketplace built for construction so equipment owners can get the parts they need from suppliers they can trust so they can get back to work.

Funding Dollars: Total of $4.6M, $3M in latest seed round

What led you to launch this venture? I have had the itch to be a part of a founding team since my undergrad and was on the lookout for opportunities. In February 2018, my partner Luke Powers was working for his family’s construction equipment rental business. He approached me with an idea he had for the very first iteration of Gearflow. After Luke explained to me the number of vendors that a contractor relies on to get their job done, it became clear there was a need for a marketplace in the construction industry. With my background in ad tech, we brought very complementary skills to the business, so I decided to take the leap and go full-time on Gearflow at the end of 2018.

The pains that specifically surround parts procurement didn’t become obvious to us until after we launched the business. We talked to countless customers and kept hearing the same pattern — their equipment was down and they desperately needed a part in order to get that machine back up and running. To put the cost of downtime in perspective, one contractor told us it cost him $90,000 a day on average for every down piece of...

Read Full Story: https://poetsandquants.com/2021/12/06/2021-most-disruptive-mba-startups-gearflow-northwestern-university-kellogg/?pq-category=students