Why We Invested in CurbWaste
Most of us spend very little time thinking about trash and recycling outside of the days we leave our cans at the curb. Once our garbage is hauled away, it’s out of sight and out of mind. We take for granted that there is an $80 billion industry that hauls, sorts, and disposes of our trash, but if it didn’t exist, society would grind to a halt.
Waste management infrastructure is essential, full stop. I witnessed this myself before I made a career transition to venture capital. I saw firsthand the pain points associated with the waste-hauling industry while working with a portfolio company at Ultra Capital. It’s a hands-on job that lacks digitization – invoices are still written with pen and paper, payments are still made via check, and software adoption has been slow.
Once our garbage is hauled away, it’s out of sight and out of mind. We take for granted that there is an $80 billion industry that hauls, sorts, and disposes of our trash, but if it didn’t exist, society would grind to a halt.
But the pandemic showed the waste management industry that embracing digitization was important, if not crucial, to maintain operations. Being able to remotely manage driver routes, track inventory, and input new orders was necessary, and more and more companies turned to software solutions to help them increase transparency and streamline their business. At the forefront of this shift was CurbWaste, a vertical SaaS provider for waste management founded by industry veteran Michael Marmo.
CurbWaste is the first integrated software solution for waste and recycling haulers that combines CRM, task management, online ordering, invoicing, payments, asset management, route logistics, fleet tracking, and data reporting in an easy-to-use app and cloud-based platform. Until now, outdated waste management software has failed to keep pace with the industry’s technological advancements, environmental regulations, and customer expectations for digital interactions. That’s both a problem and a liability.
When we met Michael at our office here in Atlanta, we knew right away that CurbWaste was a great fit for our portfolio. We believed in his vision to expand on his current fintech offerings, as we recognized that the waste management business is capital-intensive, relying heavily on cash flow and borrowing to maintain operations. Since haulers often need to borrow funds to bridge the gap between cash needed for operating and income yet to be received from invoices, we saw the value in CurbWaste building out embedded lending capabilities. And just as importantly, we loved that Michael’s firsthand experience meant he understood the most critical pain points for haulers and disposal centers.
All of these reasons are why we’re so proud to share that TTV Capital recently led CurbWaste’s $4 million seed extension round, with participation from B Capital and Mucker Capital. With CurbWaste, haulers and disposal centers can optimize their businesses by managing and streamlining operations at every step of the process, in real-time. For example, CurbWaste implemented text notifications so that customers know when to expect their dumpster pickup has saved an average of 10 minutes per stop, which allows haulers to add more customers to a route. And by bringing company data online in a central database, CurbWaste unlocks business insights for haulers and disposal centers that have previously been unavailable. Waste management businesses can now make more informed decisions across pricing, routes, disposal, and more.
As with any investment we make, we are committed to supporting our founders as they grow and scale their business. We’re uniquely positioned to help CurbWaste expand their financial services capabilities and incorporate payments and lending into an underserved and overlooked market. Combining our two decades of fintech expertise with Michael’s passion and enthusiasm for the industry is incredibly exciting to us, and we’re proud to partner with CurbWaste as they make it easier for waste management companies to streamline operations, meet environmental regulations, and keep our cities clean.