Rubicon Global, billed as the “Uber for recycling,” announced a $50 million strategic investment from Mexican private equity firm Promecap.
CEO Nate Morris said the recent investment values Rubicon at more than $1 billion, according to Forbes.
Rubicon’s $50 million Series E investment is part of a larger $100 million raise, according to Fortune.
In January, Rubicon raised $50 million in an investment led by French utility SUEZ Environment, according to Crunchbase.
The Promecap investment will help Rubicon expand in the United States and eventually open operations in Mexico, a spokesman said.
Last year, Rubicon relocated its headquarters from the central Perimeter to Atlanta Plaza, a 34-story Buckhead office tower.
Launched in 2008, Rubicon has raised more than $200 million and is backed by Salesforce CEO Marc Benioff, who has experience taking companies public.