Recycle Track Systems starts first-ever municipal contract in Indiana

Read the full article here.

By Cole Rosengren

Dive Brief:

  • Recycle Track Systems (RTS), a New York-based service provider known for its technology platform, has won its first-ever municipal waste collection contract. Valued at $3.75 million, the deal with La Porte, Indiana runs for four years with the option of a three-year extension.

  • This contract was previously held by Waste Management. Now, RTS will facilitate service to 7,500 residential and government locations through local company LakeShore Recycling & Disposal. Every truck will be outfitted with the RTS technology platform, which allows residents to manage service and helps the city optimize routing.

  • "We're thrilled to start this partnership with the City of La Porte which is joining the smart cities movement to become more efficient in managing waste," said Adam Pasquale, co-founder and COO, in a statement. "Waste collection is an essential city service and we're excited to introduce our technology solutions to help improve services for residents and support the city's sustainability goals for the future."

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Bond-Pro Raises $10M to Accelerate Leadership in Specialty Insurance Software

Volition Capital Leads Investment to Fund Bond-Pro’s Continued Innovation in Surety & Specialty Insurance Software

Boston, MA and Tampa, FL USA, January 15th, 2019 – Bond-Pro, the leading provider of Surety and Specialty Insurance software products and services, announced today that it has secured $10 million in growth equity funding to continue accelerating Bond-Pro’s vertical market integration strategy between carriers and agencies and to scale Bond-Pro’s delivery capabilities to match the continuing market demand from top US and Canadian insurance carriers. Volition Capital led the round of funding and Roger Hurwitz, Managing Partner at Volition Capital, will join the Company’s board of directors.

“The capital provides us with the resources to further strengthen Bond-Pro’s Next Gen Surety Carrier and Agency solutions, accelerate global expansion beyond North America and launch a B2B Surety Hub that seamlessly connects carriers and agencies in real-time,” said Frederick Duguay, CEO at Bond-Pro. “We’re excited to continue building upon the success of our modern Next Gen Platform solution, which already allows our clients to automate processes, materially reduce operating costs and mitigate their underwriting risk, while growing premiums by making it far easier for agents to write with them.”

 “We carefully selected Volition Capital to be our partners.” said Duguay, “Volition has a great deal of experience investing in best of breed vertical software businesses. Their broad sector knowledge and relationships will be a tremendous asset as we continue to revolutionize how surety and specialty insurance is managed.”

“What impressed us most is how rapidly Bond-Pro has grown to become the leading vendor for surety and related specialty insurance software solutions, and has done so in a bootstrapped, profitable manner”, said Roger Hurwitz, Managing Partner at Volition Capital. “The Bond-Pro team has the vision and foundation in place to transform the automation of specialty insurance. We look forward to partnering with the team to help them increase their reach and expand their offerings.”

About Volition Capital

Volition Capital is a growth equity firm that principally invests in high potential, founder-owned companies across different technology sectors.  The firm specializes in partnering with founders to help them achieve their fullest aspirations for their business.  Much of Volition’s success has come from investing in capital efficient technology companies in sectors such as: enterprise SaaS, consumer e-commerce/brands, tech-enabled services, and transactional applications.  For more information, visit http://www.volitioncapital.com.

About Bond-Pro

Bond-Pro, Inc. is the developer and publisher of Bond-Pro® Enterprise Next Gen, the leading automation and management software utilized by hundreds of agencies and dozens of surety carriers to drive greater premium, improve underwriting efficiency, reduce costs and mitigate risk.  Its enterprise products and services enable specialty insurance professionals to fully computerize and effectively manage the entire life cycle including Accounts, Jobs, Bonds, Claims, Reinsurance, Workflow, and Data Analytics.  For more information, please call 813-413-7576 or visit http://www.bond-pro.com.

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