Posted on January 3rd, 2012 No comments
The cell phone recycling company eRecyclingCorps (ERC) has raised $35 million in fundraising led by the venture capital firm Kleiner Perkins Caufield & Byers, Menlo Park, Calif. ERC launched in 2009 with original investments from OpenAir Equity Partners and SJF Ventures to help carriers and subscribers recapture a growing portion of the residual value of wireless devices no longer used by subscribers. ERC CEO David Edmondson, former CEO of RadioShack, and Ron LeMay, former CEO of Sprint PCS and current managing director of OpenAir Equity Partners, founded the company.
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Cell Phone Recycler Receives $35 Million in Financing