Recycle Track Systems Valuation, Funding & Investors
Recycle Track Systems is valued at $55M as of June 2016.
Last Recycle Track Systems valuation
$55M
Series A · Jun 2016
Last Recycle Track Systems funding round
$40M
Undisclosed stage · Jan 2025
Cumulative funding Recycle Track Systems raised
$152M
across 5 funding rounds
Key investors in Recycle Track Systems
Volition Capital
Edison Partners
Gaingels
Greenspring Associates
Partnership Fund for New York City
Citi Impact Fund
About Recycle Track Systems
Recycle Track Systems is a New York-headquartered waste intelligence platform partnering with haulers for garbage, recycling, compost, and e-waste collection. Its RouteSmart software optimizes routes using GPS data, serving 200 communities across 30 US states. Founded in 2008, the company integrates with IoT sensors at 50,000 sites to reduce fuel use and boost diversion rates.
Founded
2015
HQ
New York City, NYWebsite
Status
Privately held
Customer focus
B2B & B2G
Revenue model
Subscription
Valuation
$55M (Jun 2016)
Recycle Track Systems Valuation
Recycle Track Systems is currently valued at $55M, based on its Series A in June 2016.
Recycle Track Systems valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jun 2016 | Series A | $55M |
Recycle Track Systems Funding History
Recycle Track Systems has raised a total of $152M across 5 funding rounds.
Recycle Track Systems' first fundraising round was a $5M Series A in June 2016. The most recent completed round was a $40M undisclosed-stage round in January 2025.
Recycle Track Systems funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2025 | Undisclosed stage | Edison Partners (lead); Volition Capital; Beth Birnbaum; StepStone Capital Partners; Shazi Visram; Robert Farrell | $40M | - | Recycle Track Systems (RTS), a New York-based provider of AI-powered traceability solutions for the waste and recycling industry, closed a Series E financing round on January 24, 2025, raising over $40 million led by Edison Partners with participation from Volition Capital, StepStone Capital Partners, and other major stockholders including Beth Birnbaum, Robert Farrell, and Shazi Visram. The funding aims to accelerate investments in AI, automation, and deployment of the Pello sensor technology, which provides real-time insights into container contents, fill levels, contamination, bin location, and temperature to optimize hauling, automate pickups, and track ESG commitments. RTS partners with local haulers to streamline collection routes for garbage, recyclables, compost, e-waste, and reusables across the US and Canada. CEO Greg Lettieri highlighted the round's role in strengthening RTS's pioneer status in AI-powered waste management, enabling expanded data collection and innovation for industry efficiencies. Investors like Volition Capital's Larry Cheng and Edison Partners' Chris Sudgen praised RTS's growth from startup to industry leader, capturing market share through innovative technology and execution amid an inflection point. RTS has pursued acquisitions like RecycleSmart Solutions, Cycle, Enevo, and Elytus to bolster capabilities, and recently won contracts in New York City's commercial waste zone system. Amid legal tensions, including a lawsuit against K1 Investment Management alleging a takeover attempt and prior disputes with RoadRunner, the round underscores continued investor confidence. |
| Jul 2022 | Series D | - | $60M | - | Recycle Track Systems (RTS), based in New York, provides technology-driven waste and recycling management solutions, including AI-powered Pello sensors for real-time data on container fill levels, contamination, location, and temperature, alongside mobile apps for on-demand waste removal and comprehensive ESG tracking. The company raised over $40 million in a financing round led by Edison Partners, with participation from Volition Capital, StepStone Capital Partners, and other stockholders, aimed at accelerating AI innovation, automation, Pello sensor deployment, and North American expansion. This round, referenced across sources as a key milestone, positions RTS as a leader in sustainable waste management, optimizing hauling, automating pickups, and supporting zero-waste initiatives. Total funding across nine rounds reached $171.17 million by a later Series E $40 million round on January 24, 2025, also led by Edison Partners and Volition Capital. RTS has pursued growth through acquisitions like RecycleSmart Solutions and expansions into municipalities across the US and Canada, emphasizing data-driven insights for waste diversion, landfill reduction, and sustainability compliance. Investors highlight RTS's evolution from startup to industry pioneer, with funds supporting technology enhancements, talent, and infrastructure to meet rising demands for environmental transparency and performance. |
| Jun 2021 | Series C | Citi Impact Fund (lead); Greenspring Associates; Volition Capital; Partnership Fund for New York City; Gaingels; Edison Partners; Cue Ball | $35M | - | Recycle Track Systems (RTS), a New York-based leader in waste and recycling management, secured a $35 million Series C funding round on June 24, 2021, led by Citi Impact Fund, with participation from Edison Partners, Cue Ball, Greenspring Associates, Gaingels, Partnership Fund for New York City, and prior investor Volition Capital. The investment aims to redefine materials management, develop zero-waste programs, and enhance sustainability efforts in the waste industry by enabling greater diversion of materials from landfills through proprietary tracking technology. RTS provides real-time data to clients on waste processing, ensuring materials reach proper facilities, and partners with recycling vendors to support circular economy initiatives. As a certified B-Corporation, RTS emphasizes environmental transparency and performance, helping businesses and communities measure their environmental impact and transition to sustainable practices. The company equips its network of providers with technology to track waste streams actively, challenging traditional waste management by promoting active diversion from landfills. Citi's involvement aligns with its commitments to low-carbon economy transitions and societal challenges like sustainability. Previous rounds were led by Volition Capital and Greenspring Associates, contributing to RTS's total funding exceeding $171 million across nine rounds by 2025, including a Series E of $40 million in January 2025 from Edison Partners, Stepstone Group, Volition Capital, and others. |
| Jul 2017 | Series A | Volition Capital (lead); Sterling.VC | $12M | - | Recycle Track Systems (RTS) provides waste and recycling management technology, acting as a truck-less provider using real-time tracking hardware on partner haulers' trucks and software for unified operations, customer service, and reporting. The company serves commercial businesses and municipalities in cities like New York, Washington DC, Boston, Chicago, and Philadelphia. In June/July 2017, RTS closed a Series A round raising $11.7 million led by Volition Capital, with the 17-person company described as profitable at the time. Funds were intended to accelerate growth. RTS operates a marketplace connecting waste generators like Whole Foods with haulers, enabling material tracking for potential revenue in the $90 billion commodities market for plastics and cardboard. |
| Jun 2016 | Series A | - | $5M | $55M | - |
Who has invested in Recycle Track Systems?
12 investors have backed Recycle Track Systems across its funding rounds, including Volition Capital, Edison Partners, Gaingels, Greenspring Associates, Partnership Fund for New York City and Citi Impact Fund.
Lead investors include Edison Partners, Citi Impact Fund and Volition Capital.
Recycle Track Systems Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Boston, MA | 3 | Lead | Jul 2017 | |
| Princeton, NJ | 2 | Lead | Jun 2021 | |
| Baltimore, MD | 1 | Participant | Jun 2021 | |
| New York City, NY | 1 | Participant | Jun 2021 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Beth Birnbaum | Chicago, IL | 1 | Participant | Jan 2025 |
| StepStone Capital Partners | San Diego, CA | 1 | Participant | Jan 2025 |
| United States | 1 | Participant | Jul 2017 | |
| United States | 1 | Lead | Jun 2021 | |
| New York City, NY | 1 | Participant | Jun 2021 | |
| Shazi Visram | United States | 1 | Participant | Jan 2025 |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Recycle Track Systems
Recycle Track Systems has acquired 4 companies to date.
Last acquisition by Recycle Track Systems was on March 30th 2023. Recycle Track Systems acquired RecycleSmart Solutions for undisclosed valuation.
Latest Acquisitions by Recycle Track Systems
| Description | RecycleSmart Solutions is a Vancouver-headquartered provider of IoT container sensors for waste management across Canada. Its largest network monitors fill levels in 20,000 bins for municipalities like Toronto, optimizing routes and increasing diversion by 20 percent. Founded in 2011, the platform integrates with hauler fleets nationwide. | Cycle Technology is a Tel Aviv-based fintech developing a blockchain platform that incentivizes consumer recycling through digital rewards. Users scan barcodes via app to earn tokens redeemable for discounts at partner retailers like Coca-Cola and Unilever. The system tracks plastic and paper waste diversion in Israel and pilots in Europe. Founded in 2019, it integrates with municipal collection services. | Ambrosia is a San Francisco-based organic waste management company converting food scraps into soil amendments and renewable natural gas via anaerobic digestion facilities. The firm deploys modular infrastructure-as-a-service units to restaurants, grocers, and municipalities, processing thousands of tons annually in distributed locations across California. | Recyclebank is a Philadelphia-headquartered rewards platform incentivizing sustainable behaviors through points redeemable at 3,000 partner retailers like Target and Home Depot. Its app tracks recycling and energy-saving actions for 4 million users across US communities. Launched in 2004, it partners with Waste Management to drive 1.2 billion pounds of annual waste diversion. |
| HQ Country |  | | | |
| HQ City | - | Miami, FL | New York City, NY | New York City, NY |
| Deal Date | 30 Mar 2023 | 13 Feb 2023 | 22 Oct 2020 | 24 Oct 2019 |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed |
| EV/Revenue | ||||
| EV/EBITDA | ||||
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Recycle Track Systems Competitors
Recycle Track Systems competitors include listed companies like Concord Enviro and Fuel Tech, and private ones like Hauler Hero, Onepak, Dispatch Goods and Viscount Reuse.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Diego, CA | Private | - | - | $80M | - | |
| Boston, MA | Private | - | - | $31M | - | |
| United States | Private | - | - | $16M | - | |
 Melbourne | Private | - | - | $246M | - | |
 India | Publicly listed | $58M | $6M | $55M | - | |
| United States | Publicly listed | $27M | ($3M) | $56M | 1.3x |
Recycle Track Systems Public Comps
Recycle Track Systems is still privately-owned, but its public comps include Concord Enviro, Fuel Tech, Grino Ecologic, 374Water, Bosques Amazonicos, Unibios Holdings, Ambipar, Aurea, Royal Road Minerals and Clean Teq Water.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $58M | $6M | 1.1x | - | 11.4x | - | |||
| $27M | ($3M) | 1.4x | 1.3x | (12.1x) | (10.1x) | |||
| $79M | $12M | 0.7x | - | 4.4x | - | |||
| $215K | ($20M) | 277.4x | 277.4x | (2.9x) | - | |||
 Bosques Amazonicos | - | - | - | - | - | - | ||
| $16M | $4M | 3.6x | - | 16.0x | - | |||
| $1.2B | $346M | 1.4x | - | 5.1x | - | |||
| $256M | $15M | 0.3x | 0.3x | 4.7x | 4.8x | |||
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Common questions about Recycle Track Systems
| When was Recycle Track Systems founded? | Recycle Track Systems was founded in 2015. |
| Where is Recycle Track Systems headquartered? | Recycle Track Systems is headquartered in New York City, NY, United States. |
| Is Recycle Track Systems publicly listed? | No, Recycle Track Systems is a private, VC-backed company. |
| What is Recycle Track Systems' valuation? | Recycle Track Systems was last valued at $55M in its Series A in June 2016. |
| How much funding has Recycle Track Systems raised? | Recycle Track Systems has raised $152M across 5 funding rounds. |
| What was Recycle Track Systems' last funding round? | Recycle Track Systems' last funding round was a $40M undisclosed-stage round in January 2025, led by Edison Partners. |
| Who are Recycle Track Systems' investors? | Recycle Track Systems' investors include Volition Capital, Edison Partners, Greenspring Associates, Partnership Fund for New York City, Beth Birnbaum, StepStone Capital Partners, Sterling.VC, Citi Impact Fund, Gaingels, Shazi Visram and 2 others. |
| Which companies are comparable to Recycle Track Systems? | Companies comparable to Recycle Track Systems include Hauler Hero, Onepak, Dispatch Goods, Viscount Reuse, Concord Enviro and Fuel Tech. |
| How many companies has Recycle Track Systems acquired? | Recycle Track Systems has acquired 4 companies, including RecycleSmart Solutions, Cycle Technology, Ambrosia and Recyclebank. |
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