# Recyclebank

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/recyclebank

- Industry: Environmental Services
- Headquarters: New York, US
- Website: www.recyclebank.com
- Total disclosed funding: $153M
- Latest round: Series E (Dec 12, 2012)
- Investors on record: 11

## About

Recyclebank LLC is a sustainability-focused company that encourages environmentally responsible behavior through a rewards system, enabling communities to earn points for recycling and eco-friendly practices.Recyclebank LLC, founded in 2004 in New York, US, operates a points-based rewards system that incentivizes sustainable practices. The company was acquired by Recycle Track Systems, Inc. in October 2019. It has raised a total of USD 7.50 mn through funding, with the latest round being Series E from investor Kleiner Perkins. The current valuation of Recyclebank is USD 373.037 mn.Recyclebank’s core offering revolves around a points-based rewards system aimed at promoting sustainable practices within communities. Members earn points through various environmentally-friendly activities such as recycling, participating in environmental education programs, planting trees, and engaging in quizzes. These points can subsequently be redeemed for discounts and offers at local businesses, as well as on sustainable products. The services are designed to incentivize individuals and communities to adopt greener habits while simultaneously benefiting local economies. Recyclebank operates in various urban markets across the United States, partnering with municipalities and brand partners to expand its reach and impact in promoting sustainability.Recyclebank generates revenue primarily through partnerships with cities and local businesses, facilitating a rewards system that encourages community participation in recycling initiatives. The revenue structure is based on collaborative agreements with municipal governments, allowing them to offer Recyclebank’s services as part of their waste management strategies. Local businesses provide discounts and offers in exchange for access to the engaged customer base of Recyclebank members, creating a symbiotic relationship that drives traffic to these businesses while rewarding consumers for their environmentally responsible actions. Specific pricing plans or transaction fees associated with this model are not disclosed.In light of its acquisition, Recyclebank plans to leverage its new partnership to enhance its offerings and expand its reach. The company is focusing on launching new features within its rewards platform, aimed at increasing user engagement. Furthermore, Recyclebank is eyeing expansion into new urban markets across the US, aiming to enter at least five additional cities by the end of 2024. The funding from the Series E round will be allocated to support these initiatives, enhancing technology and marketing efforts to boost participation and operational efficiency.

## Funding rounds

- Series E, Dec 12, 2012, $7.5M — Kleiner Perkins
- Series E, Oct 13, 2011, $52M — Kleiner Perkins, RRE Ventures, Physic Ventures, Craton Equity Partners, Top Tier Capital Partners, Generation Investment Management, The Westly Group, Waste Management Service Center, Inc., Sigma Prime Ventures
- Series D, Jun 17, 2011, $2.1M — RRE Ventures, The Westly Group
- Series C, Feb 11, 2011, $19M — Kleiner Perkins, RRE Ventures, Physic Ventures, Generation Investment Management, The Westly Group, Sigma Prime Ventures, Paul Capital
- Series C, Oct 27, 2009, $28M — Kleiner Perkins, RRE Ventures, The Westly Group, Sigma Prime Ventures
- Series B, Mar 17, 2008, $30M — Kleiner Perkins, RRE Ventures, The Westly Group, Sigma Prime Ventures
- Series A, Sep 25, 2007, $2M — RRE Ventures, Sigma Partners
- Series A, May 9, 2007, $13M — RRE Ventures, Sigma Prime Ventures

## Investors

- RRE Ventures (https://capitalatlas.ai/funds/rre-ventures) — Series A, Series B, Series C, Series D, Series E
- Sigma Prime Ventures (https://capitalatlas.ai/funds/sigma-prime-ventures) — Series A, Series B, Series C, Series E
- Sigma Partners — Series A
- Kleiner Perkins (https://capitalatlas.ai/funds/kleiner-perkins) — Series B, Series C, Series E
- The Westly Group (https://capitalatlas.ai/funds/the-westly-group) — Series B, Series C, Series D, Series E
- Physic Ventures (https://capitalatlas.ai/funds/physic-ventures) — Series C, Series E
- Generation Investment Management (https://capitalatlas.ai/funds/generation-investment-management) — Series C, Series E
- Paul Capital (https://capitalatlas.ai/funds/paul-capital) — Series C
- Craton Equity Partners (https://capitalatlas.ai/funds/craton-equity-partners) — Series E
- Top Tier Capital Partners (https://capitalatlas.ai/funds/top-tier-capital-partners) — Series E
- Waste Management Service Center, Inc. — Series E