Point of Rental gets new investment partner

Point of Rental Software has announced an investment from Accel-KKR, a technology-focused private equity firm based near San Francisco.

Access-KKR replaces Susquehanna Growth Equity (SGE), which has been Point of Rentals’ investment partner since 2021.

The software firm said CEO Wayne Harris would remain in place as a “significant owner” and the current leadership team will be unchanged. It added that there would be no changes to account managers, support contacts or existing contracts.

The new Point of rental brand logo. (Image: Point of Rental)

Point of Rental said the partnership will give it added capital and expertise to invest faster in areas including AI-powered agents, the digital experiences of its customers, and “deeper intelligence”.

‘Step change needed’

Harris said Accel-KKR understands software and shared the view that a step-change in technology was needed in the rental industry; “With their support, we can move faster on AI agents built specifically for rental, digital customer experiences, Rental Intelligence, and the products our customers rely on every day.”

Accel-KKR is a technology-focused firm with over $24 billion invested. It focuses on mid-sized companies and is based in Menlo Park, near to San Francisco, and has offices in Atlanta, Chicago, New York and London.

Andrew Zbella, managing director at Accel-KKR, said Point of Rental was entering its next phase of growth; “The company’s ongoing innovation, including AI-powered tools within Rental Intelligence Suite, continues to position the company well to help customers make smarter decisions, improve operating performance, and get more value from their assets.”