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§ Private Profile · 1850 N Damen Ave, Chicago, Illinois, 60647, USA
Rheaply is a technology company.
Rheaply offers an end-to-end lifecycle management platform that streamlines asset management and facilitates a circular economy. Its core product enables organizations to efficiently track, value, and exchange surplus resources, connecting supply with demand. This marketplace approach optimizes asset utilization and reduces waste across various sectors.
Dr. Garry Cooper, CEO and Co-founder, established Rheaply around June 2015, alongside co-founders Tyler Skelton (CPO) and Peter Tucker (CTO). From his neuroscience background, Dr. Cooper identified the need for a technology-driven system to redistribute unused resources. This foundational insight aimed to address inefficiencies and promote sustainability in organizational operations.
The platform serves diverse customers, including businesses, government entities, and academic institutions, all seeking enhanced resource efficiency and sustainable practices. Rheaply’s vision is to accelerate the global transition to a circular economy by making resources more discoverable and transferable. The company empowers organizations to realize the full value of their assets, contributing to a more sustainable future.
Rheaply has raised $55.2M across 6 funding rounds.
Rheaply has raised $55.2M in total across 6 funding rounds.
Rheaply is a Chicago-based climate tech company founded in 2016 that builds a cloud-based SaaS platform for asset and inventory management, enabling organizations to create internal sharing economies and exchange surplus resources like equipment, furniture, and materials to scale the circular economy.[1][2][4][9] It serves enterprises including higher education, healthcare, government, and Fortune 100 companies, solving problems of resource waste, over-purchasing, and inefficiency by improving asset visibility, utilization, and sustainable disposition—helping users divert waste from landfills, cut costs, and meet zero-waste goals.[3][5][6] The platform has driven tangible growth, such as diverting over 491,000 lbs of material from landfills and saving organizations $2.4 million in one year through reuse, with early successes like addressing COVID-19 medical shortages in Illinois via its ERx technology.[1][5]
Rheaply originated in a Northwestern University lab when Ph.D. candidate in neuroscience Garry Cooper identified massive waste of usable lab equipment and consumables amid funding cuts, prompting him to create a platform for scientists to share excess resources—coining the name as a portmanteau of "research" and "cheaply."[1][2] Cooper founded the company in 2016 alongside Tyler Skelton and Peter Tucker, starting with university labs before expanding to broader B2B applications.[1] Early traction came from the Techstars Chicago accelerator in 2018 and a $2.5 million seed round, with pivotal validation during the COVID-19 pandemic when Rheaply's ERx tool connected medical supplies to shortage-hit areas in Illinois, in partnership with Northwestern's Computer Science Department.[1]
Rheaply stands out in asset management through these key features:
Rheaply rides the circular economy trend—a $4.5 trillion global market amplified by supply chain disruptions like COVID-19 shortages and rising sustainability mandates—by modernizing resource management for a post-linear economy focused on reuse over consumption.[1][3] Timing aligns with corporate net-zero goals, regulatory pressures for waste reduction, and economic incentives to cut budgets amid inflation, positioning Rheaply to capitalize on underutilized assets in siloed organizations.[2][5][9] It influences the ecosystem by partnering with institutions prioritizing ESG, fostering networked reuse communities, and proving scalability through metrics like rapid cost recoupment (e.g., $30,000 in 14 days for one university), thus accelerating adoption of circular principles in tech-enabled operations.[1][5]
Rheaply is poised to expand its platform with advanced features like enhanced inventory management, global scaling for remanufacturing, and deeper AI-driven sustainability reporting to support broader zero-waste strategies.[1][3] Trends like tightening ESG regulations, AI-optimized supply chains, and climate tech investment will propel growth, potentially evolving Rheaply into a standard for enterprise resource efficiency. As circular models mature, its influence could extend to influencing policy and industry standards, turning today's resource-sharing innovator into a cornerstone of sustainable operations—proving that scaling reuse is key to thriving in a resource-constrained world.
Rheaply has raised $55.2M in total across 6 funding rounds.
Rheaply's investors include Steve Case, Joe Thomas, John Doerr, Coupa Ventures, Emerson Collective, High Alpha, John Doerr Family Trust, PSP Growth, Rankin Family Ventures, Salesforce Ventures, Techstars, Revolution.
Rheaply has raised $55.2M across 6 funding rounds. Most recently, it raised $20.0M Other Equity in June 2022.