Rubicon Global, billed as the “Uber for recycling,” is also raising additional funding that could value the eight-year-old firm at about $1 billion, a source said.
Rubicon confirmed the fundraising plans, but declined to comment on the investment size or rumored valuation.
Rubicon will relocate its headquarters from the central Perimeter to Atlanta Plaza, a 34-story Buckhead office tower.
Just as car service Uber Technologies connects independent drivers with riders, Rubicon matches a network of 4,500 independent waste haulers and recyclers with business customers.
Rubicon brings innovative efficiency to an antiquated and unsexy industry, said Jeffrey Leavitt, who leads the tech practice at DLA Piper’s Atlanta office.
Rubicon is targeting the $65 billion U.S. waste and recycling market.
Scaling to capture more of that market is driving Rubicon’s Atlanta expansion.