His biggest challenge is winning clients in an industry that has long been dominated by companies like Waste Management and Republic Services, which have a combined market share of nearly 40 percent, according to data from IBIS World.
RJ Waste Recovery is one of the 5,000 haulers that have benefited from working with Rubicon Global, a broker of sorts that steals business away from industry giants, offering them cheaper rates to work with startups.
“Typically, the independent hauler has been displaced, because it lacks the scale and the national footprint to compete,” says Nate Morris, Rubicon’s co-founder and CEO. By leveraging technology, Rubicon can give small businesses a better shot at success.
In the waste industry, that’s no small bargain: By 2020, trash hauling is projected to reach $2 trillion in global sales.
To his point, as of 2014, the Bill & Melinda Gates Foundation owned about 18.6 million shares of Waste Management, or roughly 4 percent of the company.
Last September, Rubicon Global raised $50 million in venture capital funding, at a reported $500 million valuation.
Still, Rubicon remains a small player in the waste industry.