Waste Remedies raises $7.5M for waste management consulting
Waste Remedies, a St. Louis, MO-based firm that helps businesses reduce their waste management costs and inefficiencies, has secured $7.25 million in second round funding from Advantage Capital Partners, working in partnership with Southwest Bank.
The proceeds will be used to expand the company’s 12-person team and to upgrade its financial software, CEO Tim Gray said. Waste Remedies works with manufacturers, restaurants, property managers and retailers to provide waste removal and recycling services.
It helps reduce its clients’ costs by 30 to 50 percent, or around $5 million a year, Gray says, through bulk purchasing, fixing logistical inefficiencies and organizing recycling programs. The company leverages its strong presence in several geographic areas to negotiate steep discounts with waste haulers.
The company’s contracts operate on a contingency basis, which means its clients don’t pay a cent until it has reduced their expenses. Advantage Capital Partners previously helped Waste Remedies raise $2 million for its first funding round.
Next Story: Sarah Lacy claims New York Times book review unfairly slammed her Web 2.0 book, “Once You’re Lucky, Twice You’re Good”
Previous Story: Google buries Digg deal. Marked as a dupe or just lame?
About the Author, Jeremy Jacquot
Jeremy Jacquot is a doctoral student at the University of Southern California who is studying watershed management and global biogeochemical cycling. He previously studied marine biology at UCLA where he earned his B.S. in 2005; he is the Los Angeles correspondent for TreeHugger, where he focuses on science/technology and business news.