The agreement solidifies Routeware's position as the category leader in technology for the waste collection industry and strengthens its ability to provide best-in-class solutions to its customers
PORTLAND, Ore., Aug. 28, 2024 /PRNewswire/ -- Routeware, Inc., a leading provider of integrated technology solutions for the waste and recycling industry and Inc. 5000 company, today announced the acquisition of Wastech, Inc. the owner of the RUBICONSmartCity and RUBICONPro platforms. With this strategic acquisition, Routeware now offers best-in-class, purpose-built platforms for both waste haulers and municipalities, strengthening the Company's position as the category leader in technology solutions for the waste collection industry.
"This combination is yet another important milestone in Routeware's continued drive to transform the waste and recycling industry," said Paul Rafalowski, CEO at Routeware. "This is an incredibly exciting time for us, as we welcome the customers, people, partnerships and technology associated with RUBICONSmartCity and RUBICONPro to the Routeware family. Our missions, what we do and the outcomes we're driving for our customers could not be more aligned. This combination will be truly transformational for our industry."
Routeware's robust product offerings include the Company's recently-launched Elements, which is specifically designed for waste collection operators. The addition of RUBICONSmartCity and RUBICONPro to the Routeware portfolio provides specially designed capabilities for municipalities and local governments with a full breadth of functionality of waste collection operations, street sweeping, and snow removal. By acquiring RUBICONSmartCity and RUBICONPro, Routeware offers its municipal customers the ability to reduce costs, improve their service offerings and improve overall safety. This acquisition further highlights Routeware's commitment to investing in its product offerings to better serve its customers and to providing seamless continuity and support to nearly 1,500 municipal customers using these solutions.
"The alignment created by this transaction will be transformational to both Routeware and its expanding family of products, as well as for local governments and waste haulers who are in pursuit of operational excellence," said Stephen Goldsmith, former Mayor of Indianapolis, Professor of Urban Policy at John F. Kennedy School of Government at Harvard University, and Director of Data-Smart City Solutions. "The data, technology and best practices available through these products are essential for efficient and effective waste and recycling collection."
Routeware continues to leverage its over 20 years of industry experience to deliver exceptional outcomes for new and existing customers. Since partnering with K1 Investment Management in 2021, a firm specializing in high-growth enterprise software companies, Routeware has advanced its product development and expanded its market presence with strategic investments in product development and continued expansion of its customer implementation and support.
About Routeware:
Routeware is a leading provider of waste collection management systems and in-cab technology to smart cities and waste collection haulers. Routeware Elements simplifies and connects processes across collection, customer, revenue and disposal operations to improve performance and ease internal and external self-service. Routeware accelerates user learning, increases adoption and compliance, drives productivity, and engages residential and commercial customers to advance zero waste programs. Headquartered in Portland, Oregon, the company has offices and customers throughout the United States, the United Kingdom, and Canada. For more information, visit www.routeware.com.
About K1
K1 is one of the largest investors in small-cap enterprise software companies. Headquartered in Manhattan Beach, California, K1 partners with strong management teams of high-growth software businesses, utilizing operationally-focused growth strategies to rapidly scale portfolio companies. Dedicated to transforming industries and driving productivity, K1 has collaborated with over 240 enterprise software companies since inception.
K1's exclusive focus, driven by its single team, single office, and single fund strategy, has resulted in realizations for many of its portfolio companies. Examples include Apttus (sold to Thoma Bravo), Buildium (sold to RealPage), Certent (sold to insightsoftware), Checkmarx (sold to Insight Partners and Hellman & Friedman), Clarizen (sold to Planview), FMG Suite (sold to Aurora Capital Partners), GoCanvas (sold to Nemetschek Group), Granicus (sold to Vista Equity Partners and Harvest Partners), Inthinc (sold to Orbcomm), Litera (sold to Hg Capital), Rave Mobile Safety (sold to TCV; now owned by Motorola Solutions), TeamDynamix (sold to Level Equity), Unified (now owned by iHeartMedia), WorkForce Software (now owned by Insight Partners and Elliott Investment Management), and Zapproved (sold to Exterro).
For more information, visit k1.com and follow K1 Investment Management on LinkedIn.
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