Mobile refurbishing company eRecycling Group, the parent company of E-Recycling, has raised a massive $105 million Series C financing led by Kleiner Perkins Caufield & Byers, which was joined by new backer Silver Lake Kraftwerk. The new investment will provide growth capital to support potential acquisitions, geographic expansion, and new products and services for the company’s customers. eRecycling Group, which was valued at $236 million earlier this year, has now raised a total of nearly $150 million in equity financing.
Founded in 2009 by former CEOs of RadioShack and Sprint PCS, with original investments from OpenAir Equity Partners and SJF Ventures, eRecycling Group provides a scalable model to repurpose and reuse mobile devices. The company partners with global wireless carriers and retailers to provide instant, in-store trade-in credit.