Exclusive: CheckSammy hauls $45M to bring data to bulk waste collection
Waste collection startup CheckSammy raised $45 million as more businesses and apartment buildings look to reduce the bins of old clothes, laptops and plastic bottles they're sending to landfills, the company tells Axios exclusively.
Why it matters: The startup's business model combines a company's waste habits with data, allowing customers to track and comply with sustainability mandates.
How it works: CheckSammy provides bulk waste collection for commercial clients and property managers — think computer keyboards, old phones, shirts, and the like.
- It uses photos, receipts, weight measurements, distance traveled and other metrics to track what it's collecting and how much is being recycled.
- That enables customers to then report how much of their companies' trash is being diverted from landfills.
Of note: The Dallas-based company hires independent haulers — it does not own its trucks.
- A comparable peer is 1-800-GOT-JUNK, which uses a franchise model.
Driving the news: CheckSammy's funding round is a 50-50 split between equity and debt, CEO Sam Scoten tells Axios.
- I Squared Capital led the equity portion, joined by Zero Infinity Partners. Triple Point Capital put up the financing.
- I Squared's Ross Berger and John Kwaak from Zero Infinity Partners are joining CheckSammy's board, bringing the total seats to five.
What's next: The company is cash-flow positive, Scoten says, and is seeking another round of financing or an IPO in the next year or two.
- "Our goal over the next three years is to punch through that $500 million mark in revenue. That opens doors."