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Rheaply Pulls In $20M

2022-06-08
CHICAGO, IL, Rheaply today announced that it has raised $20 million in an inter-series round anchored by Revolution's Rise of the Rest Seed Fund.
Rheaply, a resource exchange platform helping industry-leading organizations better visualize, quantify, and utilize their purchased goods, materials, and resources, today announced that it has raised $20MM in an inter-series round anchored by Revolution's Rise of the Rest Seed Fund. Additional investments came from the John Doerr Family Trust; Coupa Ventures; Energy Impact Partners; PSP Growth; Rankin Family Ventures; and executives, including Joe Thomas (CEO & co-founder of Loom). Existing investors, including High Alpha, Salesforce Ventures Impact Fund, Emerson Collective, Techstars, and HPA, also returned to participate.

The Rheaply platform is a cloud-based resource exchange technology application for connecting people and organizations with resources, improving reuse outcomes, and catalyzing the circular economy. As the only market solution that combines an asset management system with an online marketplace, Rheaply's platform enables organizations to exchange materials and resources more effectively, eliminating unnecessary waste, avoiding carbon emissions, and reducing spend.
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