Waste management startup RoadRunner Recycling has raised $40 million from exclusive Fifth Wall Climate Fund. Tell Axios.
Important reasons: The cash payout to the Pittsburgh-based company highlights investor interest in bringing the largely analog world of corporate waste management online.
detail: Fifth Wall was the only company to participate in what it calls an extended round of funding, providing an additional $40 million in addition to the $70 million Series D round it raised in January.
- The company deals with single stream recycling logistics for small businesses.
- The funding helped the company finance its acquisition of Compology in October, giving RoadRunner a slight boost to its valuation but not significantly changing the company’s cap table. said CEO Graham Rihn.
Zoom in: RoadRunner is also looking to tap Fifth Wall’s LP base, which consists of one of the nation’s largest real estate groups, as a potential client.
