ecoATM Funding, Investors & Competitors

ecoATM has raised $125M across 2 funding rounds, most recently a $50M undisclosed-stage round in March 2023.

Last ecoATM funding round

$50M

Undisclosed stage · Mar 2023

Cumulative funding ecoATM raised

$125M

across 2 funding rounds

Key investors in ecoATM

  • Cowen Group

ecoATM Overview

About ecoATM

ecoATM operates automated kiosks for instant cash trade-ins of used smartphones, tablets, and wearables nationwide. Installed in over 4,000 locations including Walmart, malls, and grocery stores, the kiosks use AI diagnostics for valuation. San Diego-headquartered since 2008, ecoATM acquired Gazelle in 2015 to expand online sales of refurbished devices.


Founded

2008

HQ

United StatesSan Diego, CA

Website

ecoatm.com

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

ecoATM Funding History

ecoATM has raised a total of $125M across 2 funding rounds, plus 1 secondary share sale.

ecoATM's first fundraising round was a $75M undisclosed-stage round in June 2021. The most recent completed round was a $50M undisclosed-stage round in March 2023.

ecoATM funding rounds

ecoATM funding rounds
DateStageInvestorsRaisedDeal Summary
Mar 2023Undisclosed stage-$50MecoATM Gazelle, a global leader in smartphone and mobile device re-commerce, operates kiosks for trading in used devices and an online marketplace via Gazelle, with about 5,000 kiosks nationwide at grocery stores and malls. On March 21, 2023, the company raised $50 million in growth equity from existing investors to enhance user experience, expand partnerships, and develop grading and pricing technologies. By January 2023, ecoATM had processed 38 million smartphone and mobile device re-commerce units, up from 28 million in June 2021, highlighting strong demand for device recycling and resale. The funding supports an omni-channel approach integrating physical kiosks and digital platforms, alongside new enterprise sales features using patented technology. ecoATM employs around 374-380 workers worldwide, including 178 in San Diego, and has raised nearly $400 million across 9-11 rounds historically. Previously acquired by Outerwall in 2013 for $350 million, ecoATM faced challenges including a 2015 impairment charge due to competitive pressures and slower growth. The company emphasizes sustainability, having saved 3,000 tons of e-waste.
Jun 2021Undisclosed stageCowen Group (lead)$75MecoATM Gazelle, a global leader in smartphone re-commerce, raised $75 million in growth equity on June 14, 2021, from existing investor Cowen Sustainable Advisors (CSI), a division of Cowen Inc., to accelerate global expansion and product extensions amid rising demand for used smartphones. The company, majority-owned by Apollo Global Management funds since 2016, operates a network of kiosks that allow consumers to trade in devices for cash, reselling them wholesale or via platforms like Gazelle.com to promote sustainability and bridge the digital divide. By mid-2021, ecoATM had diverted over 28 million devices from landfills since 2009, with kiosks across the U.S. and Europe. This round followed a February 2020 transaction where CSI acquired a significant minority stake for $200 million from Apollo funds, with Apollo retaining majority ownership; CSI executives joined the board for growth and sustainability guidance. ecoATM had also secured a $150 million debt facility in January 2020 to expand its U.S. and European kiosk footprint and AI-robotics technology. The investment supports scaling to thousands more kiosks in the U.S., Europe, and Asia, capitalizing on consumer-driven reuse amid record e-waste volumes.
Feb 2020SecondaryCowen Group (lead)$200MecoATM operates automated kiosks for direct-to-consumer trade-ins of electronic devices like mobile phones and tablets, reselling them through wholesale channels, Gazelle.com, and online marketplaces. Apollo Global Management has been the majority owner since acquiring Outerwall in 2016. On February 4, 2020, Cowen Sustainable Advisors, a division of Cowen Inc., agreed to acquire a significant minority stake from Apollo Funds for $200 million, with closing expected later that month; Apollo remained majority owner, and Cowen executives joined the board. ecoATM had closed a $150 million debt facility in January 2020 to expand its kiosk network in the US and Europe.

Who has invested in ecoATM?

1 investor has backed ecoATM across its funding rounds, including Cowen Group.

Lead investors include Cowen Group.


ecoATM Investors

Investors in ecoATM by funding rounds participated
InvestorHQRoundsRoleFirst check

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ecoATM Competitors

ecoATM competitors include listed companies like Recruit Holdings, Uber, Prosus and DoorDash, and private ones like Xiaohongshu and OpenSea.

Public and private companies comparable to ecoATM
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Recruit HoldingsJapanJapanPublicly listed$24B$4B$156B6.0x
UberUnited StatesUnited StatesPublicly listed$52B$6.2B$145B2.8x
ProsusNetherlandsNetherlandsPublicly listed$9.7B$1.1B$86B8.0x
DoorDashUnited StatesUnited StatesPublicly listed$14B$1.5B$84B4.9x
XiaohongshuChinaShanghaiPrivate--$20B-
OpenSeaUnited StatesNew York City, NYPrivate$873M-$13B15.2x

ecoATM Public Comps

ecoATM is still privately-owned, but its public comps include Amazon, Alibaba Group, Recruit Holdings, Uber, Booking Holdings, Pinduoduo, Airbnb, MercadoLibre, Prosus and DoorDash.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Amazon$717B$161B3.9x3.5x17.5x13.8x
Alibaba Group$153B$15B1.7x1.6x17.5x13.0x
Recruit Holdings$24B$4B6.4x6.0x37.9x25.2x
Uber$52B$6.2B3.0x2.8x24.9x14.6x
Booking Holdings$27B$8.3B4.9x4.6x15.9x12.4x
Pinduoduo$64B$14B0.7x0.7x3.1x2.8x
Airbnb$12B$2.4B7.2x6.5x36.3x18.2x
MercadoLibre$29B$3.7B3.5x2.6x27.2x25.1x

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Common questions about ecoATM

When was ecoATM founded?ecoATM was founded in 2008.
Where is ecoATM headquartered?ecoATM is headquartered in San Diego, CA, United States.
Is ecoATM publicly listed?No, ecoATM is a private, VC-backed company.
How much funding has ecoATM raised?ecoATM has raised $125M across 2 funding rounds.
What was ecoATM's last funding round?ecoATM's last funding round was a $50M undisclosed-stage round in March 2023.
Who are ecoATM's investors?ecoATM's investors include Cowen Group.
Which companies are comparable to ecoATM?Companies comparable to ecoATM include Recruit Holdings, Uber, Prosus, DoorDash, Xiaohongshu and OpenSea.

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