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Rubicon Technologies has nominated Barry H. Caldwell, former Chief People Officer of Waste Management, for election to its Board of Directors following its upcoming business merger with Founder SPAC (NASDAQ: FOUN). Caldwell brings 16 years of experience in waste management and will contribute to corporate governance, human resources, and sustainability strategies. The merger is expected to finalize early in Q3 2022, transitioning Rubicon to a public company under the new ticker symbol RBT. This step emphasizes Rubicon's commitment to innovation in waste management.
Rubicon Technologies has announced a strategic partnership with Palantir Technologies to enhance its data and analytics capabilities. This collaboration aims to develop advanced data collection and analysis tools, optimize waste and recycling services, and commercialize new subscription data products. Rubicon’s Chairman, Nate Morris, highlighted that this partnership will enable customers to improve operations and achieve sustainability goals. Further, Rubicon is set to become publicly listed through a merger with Founder SPAC under the ticker symbol RBT in Q2 2022.
Rubicon Technologies announced the launch of a new feature for its RUBICONSmartCity™ technology, designed to enhance municipal snow removal operations. This cloud-based solution allows cities to optimize snow plowing by setting priority streets, tracking vehicle routes, and providing turn-by-turn directions. Kansas City, Missouri, one of Rubicon's pilot partners, reported over $2 million in taxpayer savings and improved public satisfaction through its use of Rubicon’s technology. The product aims to improve efficiency and safety in snow removal ahead of the winter season.
Rubicon Technologies has launched RUBICONSelect™, a program designed to enhance the purchasing power of its network of over 8,000 independent hauler partners. This initiative offers exclusive discounts and deals on essential business resources through partnerships with reputable vendors like Michelin and Commercial Credit Group. The program aims to empower haulers by redirecting cost savings into growth opportunities. Additionally, Rubicon announced a business combination with Founder SPAC (FOUN), expected to list Rubicon on the NYSE as RBT in Q2 2022.
Rubicon Technologies has announced a three-year partnership with the City of Scranton, Pennsylvania, to enhance its waste and recycling services through RUBICONSmartCity, a cloud-based technology suite. This initiative aims to digitize operations and analyze real-time data for improved efficiency and cost savings, benefiting approximately 26,000 residential locations in the city. The technology will be instrumental in optimizing waste collection routes and enhancing urban service delivery.
Rubicon's cloud solutions aim to drive sustainability and operational excellence across multiple US cities.
Rubicon Technologies reported a 2021 revenue of $583 million, an 8% increase from 2020, and exceeded prior guidance. The Annualized Recurring Revenue (ARR) reached $659 million, up 28% year-over-year, with a Net Revenue retention rate of 125%. The company announced a business combination with Founder SPAC (NASDAQ: FOUN) expected in Q2 2022. Recent highlights include a nationwide agreement with Tuesday Morning and a smart city contract with Houston. Additionally, acquisitions and expansions are set to enhance Rubicon's growth and market position.
Rubicon Technologies has announced a two-year extension agreement with Tuesday Morning, covering nearly 500 retail locations nationwide. This partnership aims to enhance waste diversion efforts and improve sustainability reporting. Since their collaboration began in 2018, Tuesday Morning has achieved a diversion rate from landfills of 43.7% in 2021, processing over 9,685 tons of cardboard. Rubicon's RUBICONConnect™ platform will continue to facilitate waste management for Tuesday Morning, contributing to their environmental goals while maintaining cost efficiency.
On March 24, 2022, Rubicon Technologies, a leader in waste and recycling solutions, announced a Virtual Analyst & Investor Day on April 12, 2022. The event will feature presentations from Rubicon and Founder SPAC executives, followed by a Q&A session. Registration is required. Founder SPAC (symbol: FOUN), which entered a merger agreement with Rubicon on December 15, 2021, anticipates listing on the NYSE post-merger in Q2 2022, pending shareholder approval and SEC clearance. For more details, visit the investor relations websites of Rubicon and Founder.
Rubicon Technologies announced that its smart city initiative with Harrisonburg, Virginia has won a Smart 50 Award for 2022, recognizing the transformative impact of its technologies on local sanitation operations.
By digitizing routes for sanitation vehicles, Rubicon has reduced average route times from 351 to 290 minutes, saving over $100,000 annually. Additionally, route mileage has halved, leading to approximately $90,000 in savings and a reduction of 230,000 pounds of CO2 emissions annually.
Rubicon Technologies has partnered with the City of Houston to enhance waste and recycling services for its 2.3 million residents. The partnership involves the implementation of RUBICONSmartCity™, a cloud-based technology suite, across Houston’s fleet of 391 waste and recycling vehicles. This initiative aims to improve operational efficiency, service quality, and recycling rates by providing analytics on metrics like missed pickups and vehicle maintenance. The installation and training were completed in just 73 days, showcasing a swift execution.
