SOURCE: WISErg

WISErg

March 24, 2015 10:00 ET

WISErg Announces $11 Million Series B Funding

Recently Named One of the "World's Top-10 Most Innovative Companies of 2015 in Food" by Fast Company Magazine, WISErg Also Names Chris Creighton Vice President of Sales

REDMOND, WA--(Marketwired - Mar 24, 2015) - WISErg Corporation, a bio-clean technology company that converts landfill bound food waste into highly productive organic fertilizer today announced Series B round investments totaling $11 million. The latest funding was led by Second Avenue Partners and other private investors. Second Avenue Partners' Pete Higgins joins former Microsoft and Amazon executive Brian Valentine, WISErg CEO and founder Larry LeSueur and co-founder Jose Lugo on the WISErg board of directors.

WISErg also named Chris Creighton as Vice President of Sales. Creighton, previously the President of Spicers Paper, brings experience in national logistics, international distribution and managing diversified sales portfolios relevant to WISErg's effort to scale the company. 

"Using WISErg's fertilizer, growers are seeing a significant increase in crop yields while at the same time completing the full circle between the grocers and the growers. WISErg's fertilizer is the solution to a community generated resource that is otherwise wasted," said Creighton. 

WISErg's solution goes beyond capturing food waste bound for landfills and using that to create a highly productive fertilizer. The company is also focused on using innovative technology to dramatically decrease the 40-percent of the product being sold in grocery stores that ends up as waste according to the Food Waste Reduction Alliance.

"Food waste is a massive problem that is not going away without innovation," said Valentine. "WISErg's technology captures data that helps retailers understand why food is being thrown out and enables them to reduce unnecessary inventory loss and maximize their bottom line. There is a lot of talk these days about big data. WISErg's technology is not just talk about the future, they are delivering solutions now that helps solve a big problem facing our communities." 

Funds from the Series B round are being used to scale operations beyond Washington State, increase fertilizer production capacity, continued agricultural testing across additional crop types and soil, geographies and crop management practices, and further efforts on data analytics.

"We have established strong partnerships to begin rapid growth," said LeSueur. "Both regulators and communities are gaining awareness of the magnitude of the waste problem. WISErg offers a viable solution today. By taking responsibility to solve our waste problem locally, we deliver a repeatable model that results in a positive global impact." 

About WISErg

Headquartered in Redmond, Washington, WISErg is a privately held bio-clean technology company that eliminates food waste from grocery stores and restaurants by converting it into a valuable, organic fertilizer. The company utilizes a patent-pending, oxidative conversion technology to intercept nutrients from food before they become waste. For more information, please visit www.wiserg.com.

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