The Angel Roundtable (ART), the Johnson City-based investment network of Northeast Tennessee and Southwest Virginia, yesterday announced an investment in KWIPPED, an online platform that connects rental suppliers with customers.
According to the company’s website, KWIPPED developed and maintains the world’s first comprehensive B2B online rental marketplace. Its technology streamlines sourcing from a global network of equipment rental suppliers, reduces risk, assures quality and facilitates trusted relationships between renters and suppliers.
In a news release (ART Press Release Kwipped Investment) announcing the investment, ART Managing Director Tony Lettich cited “the company’s visionary participation in the development of this third stage of the internet through its in-depth knowledge of the sector is only one of the reasons that ART is interested in an investment in KWIPPED.”
That sentiment was echoed by KWIPPED in its announcement.
“We’re not looking for just any investor,” Robert Preville, the company’s Chief Executive Officer and Co-Founder, said. “Just as investors engage in detailed research and use a stringent due diligence process to vet businesses for potential funding opportunities, KWIPPED uses a vetting process when choosing to partner with investors. The ART investor team is an impressive group of intelligent and successful individuals that collectively possess a diverse range of valuable skills and expertise. More importantly, they’ve proven with their actions they are willing and able to share their expertise and connections and provide proactive support to help our business grow.”