Iowa-based auction marketing and equipment pricing company, Tractor Zoom, recently raised $3 million to scale their transparent pricing and analytics platform, Iron Comps.
Tractor Zoom is partnering with world class strategic investors including Innova Memphis, Hyde Park Angels, Iowa Corn Opportunities, ISA Ventures, Ag Ventures Alliance, Ag Startup Engine and several strategic angel investors.
The company’s rapidly growing software solution, www.ironcomps.com, tracks used equipment transactions and helps people transparently price used farm equipment. The technology provides users with real-time comparable sales helping with data-driven decisions as markets change to ensure a fair transaction for both buyers and sellers. Actively monitored lists deliver a new level of speed to processes that were historically very manual.
Since Tractor Zoom’s founding in November 2017, they have partnered with 450+ auction companies to help market over 6,300 farm equipment auctions to an audience of 225,000+ equipment buyers in the United States.
“We’ve consistently been asked ‘what did that sell for?’, since first marketing auctions in 2017. That’s been the driving force behind building and evolving Iron Comps,” Tractor Zoom Founder and CEO Kyle McMahon said. “Equipment dealers and financial institutions from across the country are using Iron Comps’ transparent equipment valuations to drive ROI, increase margin and reduce risk. This fundraise allows us to invest in opportunities within our data and scale to other customer segments such as farmers, equipment manufacturers and insurance companies. Most people don’t recognize how volatile equipment prices can be. We are going to continue to invest in our technology so they can make the best data driven decisions possible.”