eRecycling Raises $105M in Series C Financing

eRecycling Group Inc., the parent company of E-Recycling, LLC (eRC), an Irving, Texas-based provider of carrier-grade, incentivized, mobile device trade-in and reuse solutions, raised $105m in Series C financing.

The round was led by Kleiner Perkins Caufield & Byers (KPCB) with participation from Silver Lake Kraftwerk.

The company intends to use the funds to support potential acquisitions, geographic expansion and new products and services.

Founded in 2009 by CEO David Edmondson, eRC aims to capture, restore and monetizes the value of used mobile devices.
It partners with global wireless carriers and retailers to provide in-store trade-in credit. The devices are resold to consumers around the world, extending access to affordable, wireless technology in emerging markets.

The company, which operates in nine countries and partners with carriers including Sprint, Verizon and TELUS at nearly 16,000 retail locations worldwide, completed more than seven million wireless device trade-ins worldwide in 2012 and more than 17 million since its founding.



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