Dive Brief:
- Rubicon Global announced it raised $30 million from investors, including the founder and CEO of SalesForce, Marc Benioff.
- Funding will be used to scale operations around the U.S. and to invest in research and development for new recycling technologies.
- Rubicon's model is to work with business customers to reduce waste expenses as well as the amount of waste going to landfills.
Dive Insight:
Rubicon was founded by Nate Morris and Lane Moore in 2008.
The company created an online marketplace that allows local haulers to bid on national contracts. Due to increased competition, this helps drive down prices. The company monitors customers' waste streams to reduce unnecessary collections. When the customer saves money, Rubicon gets a cut.
“The disruption of our model really exists around our revenue structure," Morris said. "We’re making sure all the incentives align for the first time in the waste industry.”
In February 2014, Rubicon announced a partnership with BioHitech America (BHA). The companies used a digester designed by BHA integrated with technology from Rubicon, resulting in real-time data that the companies use to make informed decisions about organic waste while reducing the output into the waste stream.
