Enevo, a company specializing in waste management technologies, announced it received $12M in its latest funding to expand into waste and recycling services.
Building upon its industry-leading dumpster sensor technology and waste analytics business, Enevo now offers full management of waste services for new and current restaurant, retail and commercial property customers, the company said.
The funding round was led by Lifeline Ventures and existing international investors. The funds will be used to accelerate the waste services in North America and key European regions.
“Enevo started as a sensor company providing data from dumpsters. We soon learned that was only half of our story,” said Fredrik Kekalainen, founder and CEO of Enevo. “What our customers need isn’t more data or new technology to manage. The true value we offer is the peace of mind that comes with Enevo as their single point of contact for waste services.”
Using proprietary analytics software, Enevo account managers monitor around-the-clock sensor data to manage alerts, compare dumpster pickups against collection schedules and work with haulers to adjust service levels to meet actual needs. Most customers see significant waste management cost savings within the first month after starting service.
In onboarding new customers, Enevo found that about nine percent of scheduled waste collections are missed without their knowledge, and 21 percent of sites need service levels adjusted. Within the first 90 days of working with Enevo, these numbers improve.
“Our customers and hauler partners no longer rely on assumptions to predict waste needs,” Kekalainen said. “Enevo is uniquely positioned to handle all waste operations for our customers. We work with hauler partners to make data-driven, site-specific changes, resulting in simplified, less expensive waste management for restaurant, retail and commercial property operators.”