The Series A-3 round will support the growth of Recompose
Seattle, Washington (May, 2021) – Recompose opened a Series A-3 funding round to raise $15M from values-aligned investors. The funding will be used for development and operations.
The company is also celebrating the passage of HB21-006 in Colorado, which legalizes the natural organic reduction process invented by Recompose founder Katrina Spade. Colorado has become the second state after Washington to legalize this option.
“It was a great honor to begin our operations in late 2020, after years of preparation,” said Katrina Spade, founder and CEO. “We’ve now served over forty families by transforming their person into soil. We also have over 700 Precompose members who have chosen Recompose for their future death care. The legalization of our bill in Colorado speaks to the momentum of this movement across the country.”
Amid the COVID-19 pandemic, Recompose closed a $6.75M Series A-2 funding round in September 2020. The funding allowed Recompose to open the Greenhouse, a 10-vessel facility in Kent, Washington. The facility has been operating at capacity since opening in late 2020.
On Monday, May 10, Colorado Governor Jared Polis signed SB21-006: Human Remains Natural Reduction Soil into law. Led by Representative Brianna Titone, Senator Robert Rodriguez, and Representative Matt Soper, this bill creates a new ecological death care option for Colorado residents.
The current funding round is open to accredited investors at a $250,000 minimum. “Because we are trying to raise a large amount of capital, our minimum investment is quite high,” said Spade. “In the future, we hope to offer additional investment opportunities at a lower minimum. We are so grateful to our community, who continue to support us through spreading the word and enrolling in Precompose, which starts at just $100 per month.”
“Recompose believes that expansion is necessary to achieve our mission in the world – to change the emotional landscape around death care and create environmental wealth at the end of life,” said Spade. “We can only do that if our system is available in man