Feeling the pressure of 9 straight quarters with a decline in total revenue, Caterpillar has acquired the equipment sharing startup, Yard Club, to get help dig themselves out of the dirt. Their most recent quarter was the company’s first positive revenue quarter since November of 2012.
Yard Club is one of a few companies that have taken advantage of the rise of the “sharing economy,” allowing users to rent their idle heavy construction equipment to other peers. It’s truly a great concept, equipment is extremely expensive and any idle time greatly impacts the return on investment. Using web and mobile apps, the system gives companies an easy way to monetize and manage their fleet of equipment. For renters, it gives them more availability and competitive pricing for the equipment they need in a hurry.
Back in 2015, Caterpillar strategically financed Yard Club, for an undisclosed amount. The equipment giant needed only 2 short years for proof of concept before diving in head first. Caterpillar will now be able to profit off of one of the concepts that has led to a decline in new equipment sales in the past few years and it’s a step in the right direction in terms of technological advancement. According to Yard Club’s website, they helped manage over $120 million worth of equipment transactions across 2,500 construction professionals in 2016.
Full Story: Caterpillar acquired Yard Club, a marketplace for construction equipment | Tech Crunch
As part of Autodesk’s late 2018 construction technology acquisition spree, the software giant gobbled up both PlanGrid and BuildingConnected. The two acquired companies now form a large part of Autodesk’s Construction Solutions branch – and are now integrated with each other for a seamless document transition from the pre-construction phase to the construction phase.
Last year at Groundbreak, Procore’s annual technology conference, the company teased a new platform they have been working on for BIM users. At that point referred to as “Design Coordination,” it now has a formal name – and an upcoming release date.
One of the key components of BIM is the ability to detect clashes, which are design coordination issues that result in the inability to construct a building as drawn. The use of 3-dimensional drawings allows contractors –and software- to detect if key building components are intersecting before it’s about to be installed in the field. Autodesk BIM 360 has recently updated its clash detection abilities within its Model Coordination module more easily and efficiently within its platform.
Hot off of the acquisition of Honest Buildings, a project management software aimed at owners and developers, Procore has announced they have acquired yet another tech company to help bolster their offerings.
Construction Management software company, Procore, initially launched their annual technology conference, Groundbreak, back in 2015. Originally hosted at their headquarters in California, the event has grown exponentially from that first year and this year may be its biggest yet.
In 2015, Milwaukee announced the release of their digital tool tracking platform: ONE-KEY. The company has since released dozens of ONE-KEY enabled tools to manage them using Bluetooth, an inventory management system, and tool reporting functionality. Yesterday, the company announced several enhancements to the platforms inventory and reporting interfaces.
In what can be expected to be a continuous trend in the construction industry, construction management software company, Procore, has acquired yet another construction tech company to further bolster their software.
3D printing technologies have significantly improved over the past few years and some have even made it to the jobsite. Not to be outdone, NASA, your favorite America space exploration organization, has announced a plan to being building and manufacturing in low-Earth orbit.
Construction Junkie's 5th Annual Best Construction Podcast Competition has officially come to an end and the results have been tallied. It was a very exciting competition this year, with several very strong competitors pulling in tons of votes.
Construction Junkie’s annual Best Construction Podcast Competition is underway for 2019 and the voting booth is officially open. As part of the contest this year, we will be highlighting one of the contest’s nominees each week. This week we highlight Builtcast.