Garage Raises $41M Series B to Scale AI-Powered Marketplace for America’s Essential Equipment, Surpassing $100M in Annual Platform Sales
Garage, a marketplace for emergency vehicles, equipment, and more, led by Martin Hunt and Alaz Sengul, has raised $41 million in Series B funding led by Invus Opportunities, along with Infinity Ventures, Initialized Capital, Y Combinator, Benchstrength, and FJ Labs. The round brings the company’s total capital raised to $60 million and will accelerate hiring and expansion into new heavy-duty verticals, including public works and sanitation.
The Problem: A Trillion-Dollar Heavy Equipment Market Still Running Offline.
Despite its $1 trillion scale, the heavy equipment market remains fragmented, opaque, and largely offline. Local governments and essential service providers continue to rely on outdated, labor-intensive processes to buy and sell critical assets, wasting time and capital that could otherwise be reinvested in their communities.
“Garage is digitizing a massive, trillion-dollar secondary market that has been entirely overlooked by modern technology,” said Bryan Kim, Partner at Invus Opportunities. “Reaching $100 million in annual sales with zero logistics employees is a testament to the power of their AI-driven platform. Martin and his team have not only built a highly efficient marketplace, but they’ve fundamentally rewired how local governments and private operators procure essential heavy equipment across all 50 states.”
Garage’s Solution: An AI-Powered Marketplace for America’s Communities.
Garage is building an AI-powered marketplace for buying and selling the heavy equipment that keeps communities running. By streamlining transactions and connecting local buyers and sellers to a national market, the platform turns a complex, months-long process into a faster, more transparent digital experience.
“Garage has been a game changer for us. We recently sold an almost 40-year-old fire truck for nearly $40,000, an apparatus that traditionally may have brought little more than scrap value,” said Chief Rob Reardon, Duxbury Fire Department (MA). “Garage made the process simple and helped us recover real value that we would not have seen otherwise. Those funds were put towards the cost of future apparatus, ultimately saving our community money.”
Key Features:
AI Appraisal Engine: Operates as an unbiased pricing guide for specialized municipal assets, generating data-driven valuations to guarantee fair pricing for buyers and sellers.
Automated Logistics: Instant freight quoting and end-to-end transport coordination, seamlessly moving 80,000-pound vehicles across state lines without human dispatchers.
Equipment Warranties: Reduces buyer risk by offering comprehensive warranties on pre-owned assets.
Nationwide Market Access: Breaks down local geographic constraints by connecting municipalities to a vetted, 50-state network, with the average transaction traveling more than 1400 miles.
Integrated Financing: Custom-built financing designed specifically to navigate local government budgets, compliance standards, and municipal purchasing requirements.
Delivering Value to Taxpayers.
Garage serves more than 1,000 communities across all 50 U.S. states and Canada, generating an estimated $100 million in municipal savings through improved asset recovery and access to affordable pre-owned equipment. For example, communities can acquire a quality used fire truck for approximately $150,000, compared with up to $2 million for a new one, a potential saving of more than 90%.
Garage Customer Success Stories Include:
South Charleston, WV: Garage helped a community of 13,000 recoup more than $1.2 million to reinvest in their community, including cancer screenings for firefighters
Utica, IN: The City’s fire department was forced to liquidate due to a corruption scandal. When rebuilding the department, the city bought their entire fleet on Garage, shrinking delivery time from years to weeks, while saving $2M+.
Auburn, MA: Auburn had never sold a truck for more than $10,000 through traditional methods. They utilized Garage to sell a unit for $120,000, a 10x increase in sales price that enabled the purchase of critical rescue equipment to protect the community.
Burlington, VT: Historically sent surplus equipment to local auctions, selling for little more than scrap value. In less than a month on Garage, they sold two fire engines that brought in an extra $80k not previously in the budget.
Skagit County, WA: Skagit County Fire District #8 sold four vehicles in less than a month, recovering more than $270k, 3x more than expected, to reinvest in public safety.
"An extra million dollars has a real impact on a community. Those funds can be reinvested in schools, roads, and local employees without increasing the burden on taxpayers," said Martin Hunt, Co-Founder and CEO of Garage. "We started Garage to guarantee that every community, regardless of size, can maintain their essential services without bankrupting their town. First it was fire trucks, then it was sanitation vehicles, but the underlying problem exists across any asset that is expensive, specialized, and hard-to-move."
Garage was founded by CEO Martin Hunt, a former firefighter and EMT who later studied at Columbia University and worked at Goldman Sachs. In late 2023, a fellow firefighter’s request for help sourcing equipment inspired Hunt to leave Wall Street and digitize the industry. Alongside CTO Alaz Sengul, he launched Garage, which has since become the country’s largest source of used fire trucks. The platform has surpassed $100 million in annual sales, with year-over-year growth exceeding 400%.
