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Rheaply Raises $20M in an Inter-Series Round to Promote Circular Economy

Chicago-based Rheaply, a resource exchange platform helping industry-leading organizations better visualize, quantify, and utilize their purchased goods, materials, and resources, has raised $20 million in an inter-series investment round anchored by Revolution’s Rise of the Rest Seed Fund.  

Additional investments came from the John Doerr Family Trust; Coupa Ventures; Energy Impact Partners; PSP Growth; Rankin Family Ventures; and executives, including Joe Thomas (CEO & co-founder of Loom). Existing investors, including High Alpha, Salesforce Ventures Impact Fund, Emerson Collective, Techstars, and HPA, also returned to participate. 

Since its founding in 2016, Rheaply has continuously driven forward the conversation around the power of reusing workplace resources. Rheaply’s innovative technology has significantly increased adoption of — and thus access to the benefits of — the circular economy for Fortune 500 companies, governments, and other large organizations.  

The company services private enterprises such as Google, Exelon, and AbbVie, establishing Rheaply as a household name not only in climate tech, but in the broader business world. 

In the circular economy model, resources are reused as opposed to the “take, make and dispose” economy model that currently dominates. 

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About Ted Jackson

A highly successful financial journalist, corporate financial writer and magazine entrepreneur with strong expertise in writing on fixed income and pass-through securities (ABS), finance and banking, the economy, economic developments, financial markets, investing and personal finance, the business of behavioral healthcare and more.

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