RoadRunner Recyling, which offers comprehensive sustainable waste management, closed $20 million in a Series D extension round led by Fifth Wall. The financing will support continued growth of RoadRunner’s core business, expanding its enterprise offering, and doubling down on its investment in technology.
In January 2022, RoadRunner closed a $70 million Series D round and in October acquired Compology, the world’s largest waste and recycling smart metering technology company. This has positioned RoadRunner as the most advanced, comprehensive and sustainable waste management solution for businesses and governments looking to increase recycling rates, reduce costs and accurately report on environmental impact, the announcement said. To date, RoadRunner has been able to increase a property’s recycling rates by 10 times, and in turn, reduce the associated carbon footprint.
“We’re thrilled to work alongside Fifth Wall to drive carbon emissions reduction, at scale, for some of the world’s most prominent owners and operators,” said Graham Rihn, CEO and founder of RoadRunner. “Our comprehensive, data-driven approach to waste management brings optimization, transparency, and sustainability to a traditionally overlooked and forgotten part of an organization’s supply chain.”
In July, Fifth Wall announced the close of its $500 million Climate Fund. The fund is the largest private fund formed to decarbonize the real estate industry.
“RoadRunner’s digitally enabled platform is a one-stop-shop for its customers to recycle more while spending less, which is fundamental to bringing the built world one step closer to achieving aggressive and essential decarbonization and net-zero initiatives,” said Jennifer Place, principal on The Climate Technology Investment Team at Fifth Wall. “Our robust limited partner network represents some of the world’s most notable global owners and operators of real estate who will undoubtedly benefit from their game-changing approach to driving greater landfill diversion.”