Getter, a privately-held Australian digital retailer of construction tools, could seek up to AUD 7m
(USD 5.3m) in a Series A round in 24 months for its next leg of growth, CEO and co-founder Tom
The Sydney-based company, which provides express delivery of tools for the construction industry,
could conduct a Series A raise 3x-5x the size of its seed round, he said.
Last December, Getter closed a seed round of AUD 1.4m from high-net-worth individuals, including
Darren Wallis, director of G.J. Gardner Homes, a home construction business franchiser.
However, given the current low interest and high supply of debt, Getter could also consider raising
debt, the CEO noted. The firm is cashflow positive and there shouldn’t be any issues accessing
funding, he added.
Getter, a B2B service, allows site workers to order supplies online with “reasonable” flat delivery fees
for an immediate or a scheduled delivery service that is charged per kilometer. The company also
provides building, electrical, and plumbing materials, workwear, tool accessories, paints, and even
electrical tools, all of which can be purchased directly, according to its media release.
At the Series A capital raising stage, the company will consider various ways to reach further growth,
Burton said, noting one option is to own stock internally by organizing warehousing facilities,
allowing it to control stock and potentially reduce costs.
The other option could be to invest in working with Getter’s suppliers on improving data about
supply stock, Burton said. Technology adoption within Australia’s construction retailing service is
trailing, and relevant data on stockpile are often inaccurate. Therefore, Getter would work to
enhance procurement and processing, he added.
The company raised its seed round independently as Burton has a background in finance, he noted,
adding it works with undisclosed Tier-1 law and accounting firm.
Australia is lagging behind in the on-demand construction tools retail industry compared to North
America, the CEO said, adding the company is closely watching its larger peers in the region. Canada-headquartered, tech-enabled construction material delivery service RenoRun, which completed a
Series A round valuing the company at CAD 22.5m (USD 17.1m) in 2019, and Canada-based Toolbx
were named among notable players in northern Canada.
Getter was started 18 months ago by Burton and five other individuals who are silent investors. All
the founders own a similar portion of shares in the business, he said, without disclosing more details.
In the meantime, the seed capital will be used to scale the company’s presence in Brisbane and
Melbourne, where it has seen emerging demand, Burton said. It is focused on building infrastructure
in those cities, along with marketing and sale initiatives, he noted.
In 12 to 18 months, Getter will seek to enter Auckland, as well as Perth and Adelaide, the CEO said.
Burton is from New Zealand and has connections in the country .
In the long term, the company could seek to enter offshore markets like Tokyo or Singapore, he
added, without elaborating. The company’s preliminary research suggests that these markets require
services to improve the construction procurement supply chain, and it might work with industry
players when it is ready to make the foray, he said.
Burton declined to disclose Getter’s financial details. It has fewer than 20 employees, he said.