Rubicon HQ at Salesforce Tower Atlanta
|Founders||Nate Morris, Marc Spiegel, Hank Dudgeon, Lane Moore|
Rubicon Global is a cloud-based, full-service waste and recycling company focused on sustainability. It works with customers to find inefficiencies and cost-savings in their waste stream and to develop new and innovative ways to reduce, re-use and recycle waste.
- 1 History
- 2 Corporate information
- 3 Business model
- 4 Impact
- 5 Case study
- 6 References
- 7 External links
Rubicon was founded in Kentucky in 2008 by Nate Morris and Marc Spiegel who were friends from Eastern High School in Louisville. Spiegel's family had been in the waste and recycling hauling trade for more than a century; his knowledge piqued Morris's interest in starting a company that could disrupt the waste industry. Morris maxed out personal credit cards and sold items on eBay to fund initial expenses, like a website and basic legal work. Shortly thereafter, Hank Dudgeon joined as a co-founder.
Rubicon's name comes from the idiom “Crossing the Rubicon”, which means to pass a point of no return and refers to Julius Caesar’s army’s crossing of the Rubicon River in 49 BC. Morris has called Caesar's river crossing “a fantastic story of disruption.”
In September 2015, Rubicon raised $57 million in a third round of financing. The round was led by Nima Capital. Investors included Leonardo DiCaprio, Henry Kravis, Paul Tudor Jones, Goldman Sachs, and Wellington Management.
Forbes reported in January 2017 that Rubicon had raised an additional $50 million in funding, bringing its valuation to $800 million. French-based multi-national company Suez led the financing round which raised a total of $75 million.
In September 2017, Forbes reported that Rubicon had raised an additional $50 million from Promecap, the Mexico-based investment firm led by Fernando Chico Pardo, a long-time associate of Carlos Slim. The funding put the company's valuation at more than $1 billion.
Rubicon has partnered with startup Helpr to provide childcare services for its workforce.
Rubicon aims to cut costs for customers by working with suppliers to reduce inefficiencies and maximize the amount of waste being diverted from landfills. Customers include 7-Eleven and Wegmans. Rubicon serves the United States, Canada and Puerto Rico and launched in 18 additional countries in early 2016. In February 2019, Rubicon said it was formally setting its sights on international business development, with efforts expected to focus on Europe and the Asia-Pacific region to start.
Rubicon is a cloud-based company. It created and maintains its own software platform that analyzes its customers’ waste stream and makes sense of all the data on haulers, clients, and recycling possibilities. Rubicon provides a suite of SaaS products for waste, recycling, and smart city solutions. This subscription business is targeted to comprise more than 50% of Rubicon's revenue.
Rubicon's business model, focused on moving the industry away from landfills and investing in technology, has elicited strong reactions from the large incumbent waste companies.
At WasteExpo 2017, Waste Management CEO James Fish commented on Rubicon's landfill diversion goals by saying, "To the extent that all of us own disposal facilities of some type, maybe we are married to it, and I'm OK with that at 30 percent margins. I’m agnostic here with respect to landfills versus recycling."
Small business empowerment
Rubicon has partnered with The Credit Junction to provide its network of haulers with flexible financing, including access to term loans or lines of credit from $500,000 to $5 million.
RUBICONSmartCity is the company's product offering specifically designed for city governments. Rubicon's Michael Allegretti told Governing Technology: "We're powering garbage trucks to be the eyes and ears of cities. Garbage trucks should be rolling data centers." Government Fleet reported that Rubicon's platform had improved driver safety, vehicle health, customer service and the ability to track public works priorities like potholes, property maintenance issues and graffiti for Rubicon's municipal partners.
Rubicon launched a partnership with the City of Atlanta in December 2016. The city's waste trucks are deployed with Rubicon's mobile app and the Department of Public Works has access to the company's vendor platform.
In February 2019, Rubicon announced a partnership with the City of Fort Collins, Colorado to test new smart street sweeper technology. Rubicon announced partnerships with the City of Irving, Texas in April 2019 and the City of Norfolk, Virginia in June 2019. In November 2019, Rubicon announced a partnership with the City of Fort Smith, Arkansas.
The RUBICONSmartCity technology is available on the Amazon Web Services Marketplace. In spring 2019, Rubicon said the smart cities platform had been rolled out in more than 30 cities across the U.S.
In October 2017, Rubicon announced a partnership with TerraCycle to offer more non-landfill waste solutions. The companies have access to each other's customer bases to offer new solutions, fill in service gaps and develop new strategies.
Rubicon announced in March 2019 that it had entered into a partnership agreement with the Odakyu Group to bring its technology solutions to Japan and help Odakyu develop a sustainable ecosystem for all of its operating businesses.
In December 2019, Rubicon announced it had signed a subscription agreement with Swiss company Helvetia Environnement. Helvetia has a network of roughly 500 public sector and 15,000 private sector clients.
Zero Waste and Environmental Data
Rubicon CEO Nate Morris has said that the company's goal is to move all of their "material into something more sustainable than a landfill." Rubicon is a member of the U.S. Zero Waste Business Council.
In early 2018, Rubicon debuted RUBICONMethod, a guide that encapsulates best practices for organizations striving to reduce their waste generation and keep valuable materials out of landfills.
In 2017, Rubicon supported legislation in Nevada to increase collection opportunities for independent haulers. The company argued in an op-ed that Senate Bill 315 would "save taxpayer money, empower competition, and help eradicate landfills." Republic Services responded with an op-ed arguing against the bill.
Recognition and Memberships
Rubicon won the Ecolab Award for Circular Economy Digital Disruptor at the annual meeting of the World Economic Forum in 2017. The prestigious award was presented as part of The Circulars, an awards program by the WEF’s Young Global Leaders. Nate Morris was named a finalist for the Fortune Award for Circular Economy Leadership the same year.
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