Five months after raising a $25 million funding round, Smarter Sorting has raised an additional $7 million with new investor Regeneration.VC.
Smarter Sorting’s product intelligence software can classify the ingredients of 2 million consumer products, providing brands and major retailers like Costco, Wegmans and Albertsons Companies with guidance about how to safely ship, store and dispose of products in compliance with environmental regulations. The software also ensures that retailers are maximizing donations to food banks, most notably with Feeding America’s network of food banks and pantries.
Smarter Sorting is headquartered in Austin and has offices in Boulder and Los Angeles. The company has 84 employees, including 17 in Colorado and 28 in Austin.
The team has doubled in the past year, according to Chief Talent Officer Nicole Adams Kraus, and expects to grow another 20 percent over the next year.
The $7 million funding extension was led by Regeneration.VC. Michael Smith, a general partner at the firm, said in a statement that he is thrilled to have Smarter Sorting join its portfolio of circular and regenerative companies tackling the climate emergency.
“Smarter Sorting’s approach sheds much-needed light on the chemical composition in our everyday consumer products and can lead to better product formulation, more circular pathways for waste streams, reduced emissions in shipping and handling of regulated products … all [of which] enables vital positive outcomes in the CPG and retail spaces,” he said.
