NEW YORK, Feb. 17, 2026 (GLOBE NEWSWIRE) -- Moab, the first modern software company building the operating system for equipment rental and dealership businesses, today announced its launch from stealth alongside $16 million in funding across Seed and Series A rounds. The company is backed by Elad Gil and Ironspring Ventures, and is already working with enterprise customers across North America.
The Seed round closed in April 2024 and the Series A closed in October 2025. Both rounds were $8 million, led by Elad Gil, with significant investment from Ironspring Ventures and participation from angel investors Karim Atiyeh, Co-Founder and CTO of Ramp, and Dave Yuan, Founder of Tidemark.
“Construction is becoming capital intensive and complex, pushing equipment rental operators to grow. Fragmented systems obstruct our ability to see the full operational picture." said Peter Holt, Co-founder and General Partner at Ironspring Ventures. "Moab is an AI native solution, built from the ground up to give operators maximum leverage as they serve our expanding customer base.”
As capital costs rise and fleets become more specialized, construction firms increasingly rent equipment instead of buying it. At the same time, the software powering most of the equipment rental and dealership market was built decades ago and has changed little since. Many businesses still rely on on-premise infrastructure and workflows that were never designed for modern scale, real-time data, or operational volatility. Moab is rebuilding this core layer from the ground up to deliver live operational insights across the business.
Led by Co-Founder and CEO Charles Soll, an early Product Manager at Uber, and Co-Founder and CTO Patrick Anderson, former Head of Core Engineering at Ramp and its 11th employee, Moab provides a modern operating system that supports core workflows across operations, dispatch, billing, and accounting. The platform is designed for mid-market and enterprise customers that run complex fleets and require end-to-end reliability rather than point solutions.
Moab works with companies including Axis Portable Air, Battlefield Equipment Rental, Texas First Rentals, and National Trench Safety. Battlefield Equipment Rental is owned by Toromont Industries (TSX: TIH), a publicly traded company. Texas First Rentals is owned by HOLT Cat, the largest Caterpillar dealer in the United States.
Moab is projected to manage more than $2.5 billion in transaction volume annually while overseeing more than $4 billion of fleet assets next year.
“Equipment rental sits at the center of how modern construction works, but the software behind it has not kept up,” said Charles Soll, Co-Founder and CEO of Moab. “We built Moab to replace outdated systems with a modern operating system that reflects how these businesses actually run today.”
“Moab’s workflow aware and AI-native solution turbo charges throughput for businesses constrained by their existing archaic software,” said Patrick Anderson, Co-Founder and CTO of Moab.
The company plans to use the new capital to continue investing in product development and to scale its engineering and go to market teams.
Equipment rental and dealership operators can learn more and request a demo at moab.com.
About Moab
Moab is a software company building the operating system for equipment rental and dealership businesses. Designed for mid-market and enterprise operators, Moab replaces legacy ERP systems with a modern platform that supports core workflows across dispatch, billing, accounting, and fleet management. Moab is backed by leading investors Elad Gil and Ironspring Ventures and is headquartered in New York. For more information, visit moab.com.
Moab press contact: Cristina Pena, cristina@titletk.co
