Ramp's 11th employee left fintech to write the software that runs a rental yard.
Patrick Anderson spent about five years at Ramp, the corporate card company that grew into a spend platform, where he was employee number eleven and eventually ran core engineering. Ramp is what a New York software resume looks like when it is going very well. He left it, in 2024, to work on a much less glamorous problem. Equipment rental. The industry that keeps a boom lift on a job site in Amarillo and sends the invoice via a Windows XP-era ledger.
Moab, the company he co-founded with Charles Soll, an early product manager at Uber, emerged from stealth in February 2026 with $16 million in combined Seed and Series A funding, split evenly across the two rounds. The Seed closed in April 2024. The Series A closed a year and a half later, in October 2025, backed by Elad Gil and Ironspring Ventures. This is a company that took its time.
The pitch is neither modest nor unfamiliar. Moab is calling itself the operating system for equipment rental and dealership businesses, which is what every SaaS company in every category says at Series A. The interesting part is not the phrase. It is the buyer. The people writing checks to Moab operate yards, not offices. They dispatch trucks. They send technicians. They run credit checks on contractors whose personal cell number is also the company number. Their existing software often predates the iPhone.
Moab's workflow aware and AI-native solution turbo charges throughput for businesses constrained by their existing archaic software.— Patrick Anderson, Co-Founder & CTO, Moab · February 2026
The bet Ramp made, roughly, was that finance teams were drowning in receipts and reimbursements while the underlying data was structured enough to automate almost all of it. The bet Moab is making is similar, translated into a different vocabulary. Rental yards are drowning in whiteboards, phone calls, and paper tickets, while the underlying data - which asset is where, who owes what, which technician is closest - is structured enough to automate almost all of it. Anderson has done this pattern before, at a company that reached considerable scale before he left.
What Moab is selling, in plain terms, is one product that handles the parts of a rental business that today sit in three or four different products. Inventory. Order creation. Invoicing. Service and repair tickets. Dispatch routing. Payables and receivables. Financial reports. The company describes AI as embedded inside those workflows rather than bolted on the side, which is the correct architectural preference for a category where the buyer does not want a chatbot; they want the invoice to be right.
The competitive landscape is unglamorous and durable. Point Of Rental. Wynne Systems. Texada. The names most tech people have never heard of, running mid-market and enterprise deployments that took years to install. Moab is not the first company to try replacing them. It is the first with a Ramp engineer and an Uber PM at the helm, backed by an angel who has a strong record of noticing categories before they are widely noticed.
Anderson's public quote in the emergence-from-stealth press release is the one word to underline: throughput. Not intelligence. Not automation. Not experience. Throughput. In an industry where each daily route completed is revenue, and each late invoice is a working-capital line item, the pitch is quantitative. Move more iron. Bill it faster. Close the books at the end of the month without a spreadsheet.
Notable backers: Elad Gil (angel), Ironspring Ventures (industrial software).
Moab is a town in Utah, surrounded by red sandstone and the type of terrain where heavy equipment feels less like an abstraction. The domain trymoab.com redirects to moab.com. Someone paid for the two-syllable version.
Being the eleventh employee at a company that later grows to thousands is a very specific credential. It means you saw a small company become a system. Anderson is now trying to do it in reverse - starting the system on day one.
Manhattan's West 22nd Street, seventh floor. A block from Ramp's early offices. Roughly the same latitude at which most equipment rental software has historically not been written.
Charles Soll, CEO. Early product manager at Uber. Rodda John, Lead Engineer, rounds out the founding technical group. A three-person nucleus for a company shipping to enterprise buyers.
Moab's marketing uses phrases like "real-time control" and "workflow aware." The customer testimonials on its site come from Axis Portable Air and National Trench Safety. That is a very particular buyer, and it is not a startup buyer.
Twenty-two months elapsed between the Seed close and public launch. Not every founder has the discipline, or the runway, to stay quiet that long. Anderson did both.
The category Moab is entering is enormous and unglamorous, which is usually a good combination. United Rentals, the largest company in the space, is a public company worth tens of billions of dollars. The long tail underneath it is thousands of regional and specialty operators. Most of them run legacy on-premises or thinly cloud-wrapped software that was designed before real-time telematics data existed. That software works. It also does not integrate cleanly with QuickBooks, or with the accounting stack the CFO of a $50M rental company would prefer to use in 2026.
Ironspring Ventures, one of Moab's institutional backers, has spent several years underwriting exactly this thesis. Software for industries that build the physical world. Construction, logistics, energy, industrial services. The category has produced quiet successes and one or two loud ones, and it has attracted a small but committed set of investors who look at the same TAM slide and see something worth funding.
Elad Gil, the other named backer on Moab's Series A, is not an industry specialist. He is a generalist angel with a track record of getting there early on companies that later look inevitable in hindsight. His participation is less a signal about equipment rental and more a signal about Anderson and Soll.
The interesting question in front of Moab is the same question in front of any category-defining bet. Can a workflow product built well enough to save a rental yard four hours a day become the system of record for the entire operation, and then extend into payments, financing, telematics, and analytics on top of that record. The answer is either yes and the company is worth several billion dollars, or no and the company is worth a warm handshake with a strategic acquirer. Moab is only two rounds in. It is too early to say which.
Anderson, for his part, has done this before at a company where the answer turned out to be the good one. Ramp built a corporate card, then a bill-pay product, then a full spend platform, then a treasury and travel product on top of the same account. Each layer added revenue per customer without adding much cost to acquire. The pattern is legible. Whether Moab will follow it in a different industrial vocabulary is what the next four years will decide.
Real-time tracking across millions of serialized assets, with depreciation and lifecycle built in.
Quote-to-contract-to-invoice in one workflow. Mobile-first for field sales.
Intelligent routing for delivery, pickup, and technician service tickets.
Automated journal entries, reconciliation, and integration with existing GLs.
Digital payments, billing automation, and receivables management embedded in the platform.
Integrated with third-party telematics so asset utilization is visible next to revenue.
Co-Founder and CTO of Moab, a New York software company building an operating system for equipment rental and dealership businesses. Previously Head of Core Engineering at Ramp, where he was employee number eleven.
A modern operating system that centralizes operations, dispatch, billing, and accounting for equipment rental and dealership businesses. It emerged from stealth in February 2026.
$16 million across a Seed round in April 2024 and a Series A in October 2025. Both rounds were $8 million. Backers include Elad Gil and Ironspring Ventures.
Charles Soll is Co-Founder and CEO, previously an early product manager at Uber. Rodda John serves as Lead Engineer.
New York City. Public records list the office at 56 West 22nd Street, seventh floor.