In 2014, a group of experienced Entrepreneurs and recycling executives set out to change the recycling industry. In partnership with Intellectual Ventures, we discovered that the common market need was improved transparency and transactional efficiency – and so Retrace was born. We raised $1M in Seed funding, sufficient to spinout from Intellectual Ventures as an independent company. On Oct 23rd, we launched our 1st Marketplace, the e-StewardsMarketplace. We were pleasantly surprised at the reception - by the end of 2014, we had 204 registered users, giving us access to the largest recyclers in the US.
In February 2015, we launched our 2nd Marketplace – Retrace Mobile. In our first month, we closed over $700K in transactions through our Marketplace.
Most importantly, we have assembled an amazing Team who are dedicated to the mission and focused on building a fun Company. We're planning to move offices by the end of the year and intend on buying a boat on Lake Union to use as a Conference room...at least that's what I'm telling the Board!
We are in our Series A round and on track to generate over $2M in Revenues in 2015 (I expect to break-even by the end of the year). We are partnering with the top 5 data erasure companies, the top 2 Inventory management systems and leading logistics companies to add value to our platform and create a “sticky” product offering. We also have orders to build other industry platforms, from batteries to textiles, carpet and sustainable fishing even...a very cool idea.
I appreciate your time and interest Retrace. I wish you luck in your job search and hope we have the opportunity to meet.