Dive Insight:
Since its 2015 launch in New York, RTS has seen substantial growth in recent years. Initially branching out into markets such as Boston, Washington, D.C. and Philadelphia, it now has a presence in numerous states around the United States. This new transaction marks a greater expansion into Western areas, including Colorado.
Following a second funding round, RTS made its first acquisition last fall with the purchase of Recyclebank. Once a well-funded and high-profile company, Recyclebank focused on gamification and messaging to increase municipal recycling participation. The company saw business decline in recent years, as some municipalities sought to cut costs due to commodity market declines, and Lettieri pledged to overhaul “the entire strategy and execution of the company.” Asked about the integration process, he recently told Waste Dive it had “gone very well” and related announcements could be expected in the coming months.
That particular deal was viewed as complementary to the company’s recent expansion into municipal contracts, an area less commonly pursued by similar technology companies providing service via hauling partners. This latest transaction with Enevo fits into the core RTS model of servicing commercial accounts, with clear overlap around the two companies’ focus on tracking and data.
Read the entire article at WasteDive.