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Resource Management Tech Startup Rheaply Raises $20M

The Chicago-based firm helps cities, universities and other organizations spot ways to reuse materials, which in turn can reduce costs, waste and carbon emissions. The company operates in the “circular economy” space.

The Sunshine Canyon Landfill in Los Angeles County.
The Sunshine Canyon Landfill in Los Angeles County, one of the largest landfills in the country, has used sensing data to reduce methane emissions. This has the added benefit of addressing odors from the dump, as odorless methane can carry foul scents.
(Mark Boster/Los Angeles Times/TNS)
Chicago-based Rheaply, whose platform helps cities, universities and companies cut down on waste by plugging them into the “circular economy,” has raised $20 million in a new funding round.

The startup, which launched in 2015, already works with San Francisco, the University of Chicago and other organizations to help them manage their resources and cut down on waste, emission and purchase costs. For instance, that could mean using the platform to spot an opportunity to take materials from a deconstructed building in one part of a city to a new construction site, saving the costs and potential waste of bringing in new materials.

Rheaply describes itself as a resource exchange platform focused on “reusing workplace resources,” according to the statement announcing the new funding round.

Reusing those resources can make a dent in carbon emissions if practiced by enough public agencies, companies and other organizations, the company said. In fact, the company has launched a new estimated embodied carbon avoidance feature on the platform.

In a recent interview with Government Technology, company co-founder and CEO Garry Cooper Jr. talked about how the idea for Rheaply came during his doctorate studies in neuroscience, when he noticed that some lab resources such as microscopes and chemicals weren’t always used and shared in the most efficient ways.

The new funding round included Revolution’s Rise of the Rest Seed Fund, the John Doerr Family Trust, Coupa Ventures, PSP Growth, Rankin Family Ventures, High Alpha, Salesforce Ventures' Impact Fund, Emerson Collective, Techstars and Hyde Park Angels.

The fresh capital will go toward scaling the company’s technology, developing its consulting services and bringing on more partners, according to the statement. Rheaply also will expand its work with Illinois-based utility Nicor Gas.

“As a Black founder, I am proud to have achieved this funding milestone,” Cooper said in the statement. “However, the takeaway I want to emphasize is the fact that investors have recognized the incredible nature of the solution our team has built.”