Rheaply Raises $20 Million in Funding


Rheaply, a Chicago, IL-based provider of a resource exchange platform helping organizations visualize, quantify, and utilize their purchased goods, materials, and resources, raised $20M in funding.

The round was led by Revolution’s Rise of the Rest Seed Fund with participation from John Doerr Family Trust, Coupa Ventures, Energy Impact Partners, PSP Growth, Rankin Family Ventures, Joe Thomas, High Alpha, Salesforce Ventures Impact Fund, Emerson Collective, Techstars, and HPA.

The company intends to use the funds to further scale its tech development efforts, develop its consulting services to help more organizations strategically progress toward their sustainability goals, and grow its partnership program to bring more industry, technology, and community partners into the circular economy.

Led by CEO Dr. Garry Cooper Jr., Rheaply is a cloud-based resource exchange technology application for connecting people and organizations with resources, improving reuse outcomes, and catalyzing the circular economy. The solution combines an asset management system with an online marketplace, and enables organizations to exchange materials and resources effectively, eliminating unnecessary waste, avoiding carbon emissions, and reducing spend.

The company services private enterprises such as Google, Exelon, and AbbVie, among others.