Compost Crew raises oversubscribed $5.5M Series A to accelerate growth
DMV’s food recycling leader secures investments from Lattice Impact Capital and long-time customer Tower Companies
Rockville, MD (PRUnderground) April 18th, 2022
Compost Crew, the largest food scrap recycling company in the Mid-Atlantic, announced the closing of an oversubscribed $5.5M Series A investment to help propel the growth of composting in the greater Washington, D.C. metropolitan area and beyond. The funding round was led by Lattice Impact Capital, a New York-based sustainable infrastructure fund that invests in companies, projects, and assets that will transition the world to a more environmentally sustainable future.
“With the rising customer demand we have witnessed over the past 18 months, the time was right to engage a group of investors who can make a meaningful contribution to our expansion,” said Ben Parry, CEO of Compost Crew. “Compost Crew will continue to operate a profitable business and we remain as committed as ever to protecting the planet and creating high paying jobs for our diverse workforce. This investment will accelerate our mission to bring composting mainstream.”
“We are enthusiastic about the growth prospects for Compost Crew and for its important mission to eliminate food waste,” said Neal Parikh, Managing Partner of Lattice Impact Capital. “We expect the momentum behind food scrap recycling to accelerate in the D.C. region and other states; Compost Crew’s strong leadership team and ten plus years of experience will allow it to capture an outsized share of the market.”
Additional investors in this round of funding include: the Tower Companies, which has been a Compost Crew customer since 2015; K Street Capital; and several local executives and long-time Compost Crew customers.
“As one of Compost Crew’s first commercial clients, we understand the benefits of composting,” said Katie Rothenberg, Vice President of Sustainability with Tower Companies. “Environmental sustainability is so important – whether it be carbon, water or waste reduction. Tower Companies was thrilled with the opportunity to invest in a local organization that is a leader in reducing food waste. We hope to help Compost Crew motivate more area businesses to start composting, which will have a positive benefit for our local community.”
In 2021, Compost Crew reached 7,000 customers as the company continued its rapid growth in both the residential and commercial markets. The company quadrupled the capacity of its distributed composting facilities built in partnership with area farms, and has rolled out new solution offerings like a paid food scrap drop off subscription for residential customers.
To learn more about Compost Crew’s services, visit compostcrew.com.
About Compost Crew
Compost Crew Inc., A Benefit Corporation is the leading organics recycling company in the DMV. The company provides simple and convenient composting solutions to thousands of businesses, organizations and residential customers throughout Maryland, Northern Virginia and Washington, D.C.