Under New Leaders, Name, PegEx Raises $8M for Waste Removal Software
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Forest, IL-based Stericycle (NASDAQ: SRCL) and Norwell, MA-based Clean Harbors (NYSE: CLH), he says. Those companies could also end up paying to license PegEx’s software, Apfelbach says, meaning the startup would be selling to both sides of the waste disposal market.
PegEx’s software includes tools for managing documents and information on current and prospective customers, Apfelbach says.
After PegEx hired Apfelbach, he and other company leaders cut staff and spending by about half, he says. (The startup had about 30 employees as of April 2016.) But PegEx has since been growing, Apfelbach says. Revenues in 2017 were $7.45 million, he says, up about 65 percent from the previous year.
Now, with some new funding from investors at its disposal, PegEx will set out to persuade manufacturing companies and other waste generators that its software can save them time and money. And if the startup is successful in getting clients to move their waste removal record-keeping from paper to pixels, maybe some trees will be saved in the process.