Rheaply, a climate tech company that combines a resource-sharing network with a user-friendly asset management platform, today announced that it has raised $8M in a Series A round led by High Alpha, with investment from 100 Black Angels & Allies Fund, Concrete Rose Capital, Hyde Park Angels, M25, MCJ Collective, Morgan Stanley Multicultural Innovation Lab, Revolution's Rise of the Rest Seed Fund, and Salesforce Ventures. Rheaply's platform eliminates potential waste by instituting the principles of a circular economy, a model that emphasizes "designing out waste and pollution, keeping products and materials in use, and regenerating natural systems."1

Rheaply's Series A is one of the largest rounds ever raised by a Chicago startup with a Black founder, and the majority of new investors are impact funds.

Rheaply is the technology for connecting organizations with resources and catalyzing the circular economy. As the only market solution that combines an asset management system with an online marketplace, Rheaply's Asset Exchange Manager (AxM)™ enables organizations to manage and transact physical assets more effectively, eliminating unnecessary waste and spend. To learn more about Rheaply, visit rheaply.com or follow @RheaplyInc.