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Rheaply
Rheaply is an asset lifecycle management platform co-founded by Dr. Garry Cooper in 2016.
Rheaply
Rheaply was founded in 2016 by Dr. Garry Cooper, a researcher who initially built a platform to connect laboratories with surplus equipment. The company later expanded into a broader asset lifecycle management system for workplaces and real estate teams. Rheaply is structured as a public-benefit corporation, reflecting its stated mission of reducing waste alongside commercial software sales. The firm's platform tracks asset location, condition, and value, enabling clients to redeploy items across departments or donate surplus. Rheaply reports confirmed savings of $530,000 for a university client and over $193,000 for Allina Health. The platform also facilitates connections to a network of more than 3,400 partners for resale or reuse (per Rheaply, 2024). Its investors include High Alpha, Emerson Collective, Rise of the Rest, Hyde Park Angels, Energy Impact Partners, Citi Ventures, Microsoft, and Salesforce. The asset classes covered are office furnishings, lab equipment, and technology hardware. Rheaply employs about 38 people, with 60% based in Chicago. The firm has no disclosed AUM or deployment figures, as it is a venture-backed software provider, not an investment manager. The company reported a 2024 client roster that includes Barnard College, RUSH University Medical Center, and Allina Health. No recent operational events have been externally confirmed beyond the published case studies. Rheaply's structural differentiator is its hybrid model as a public-benefit corporation backed by venture capital, focused solely on enabling circular-economy outcomes through software. Unlike a traditional asset manager, Rheaply does not own or invest in assets directly but generates revenue through platform subscriptions. This operating-company structure with a sustainability mandate distinguishes it from typical enterprise SaaS or recycling firms.
General information
Firm type
Asset Manager
Year founded
2016
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Chicago
Corporate office
Chicago, United States
Principals
Garry Cooper
CEO and Founder
Sector focus
Frequently asked questions
Who founded Rheaply and what was the original idea?
Rheaply was founded in 2016 by Dr. Garry Cooper. The name combines 'research' and 'cheaply.' Cooper initially built the platform to connect scientists with surplus lab equipment and consumables, addressing funding cuts and resource waste in research. The company later expanded to serve workplace and real estate teams across multiple sectors.
Does Rheaply manage any investment funds or commit capital directly?
No. Rheaply is a venture-backed software company that provides a platform for asset lifecycle management, not an investment manager. Its revenue comes from subscription fees, not management fees or carried interest. The firm does not disclose AUM because it does not deploy capital on behalf of external investors.
How does Rheaply generate savings for its clients?
The platform tracks all owned assets—location, condition, value—so clients avoid over-purchasing and can redeploy items internally. Surplus assets can be matched with a network of 3,400+ partners for resale or donation. Rheaply reports that one university client saved $530,000 through reuse, and Allina Health saved over $193,000.
Who are Rheaply's primary investors?
Rheaply is backed by High Alpha, Rise of the Rest, Emerson Collective, Hyde Park Angels, Energy Impact Partners, Collide Capital, Cleveland Avenue, Citi Ventures, Microsoft, and Salesforce (per the firm's website). These investors are venture capital funds and corporate venture arms, not family offices or institutional allocators.
What geographic markets does Rheaply serve?
Rheaply's headquarters is in Chicago, Illinois, and the company primarily serves clients in the United States. Case studies include organizations based in the Midwest and Northeast, including Allina Health in Minnesota and Barnard College in New York. The firm has mentioned expansion plans in multiple cities to support furniture reuse amid office reconfigurations.
Is Rheaply a for-profit or nonprofit organization?
Rheaply is a for-profit public-benefit corporation, meaning it has a legal mandate to consider its impact on the environment and society alongside shareholder value. This structure is disclosed on the company's website and reflects its circular-economy mission. It is not a nonprofit, but the public-benefit designation creates a governance obligation beyond profit maximization.
What type of assets does Rheaply's platform manage?
The platform handles office furniture, lab equipment, technology hardware, and other workplace resources. Clients include universities, healthcare systems, and corporations. The system tracks each asset's condition, location, and value to facilitate internal redeployment, reuse, or sale to the network of buyers and nonprofits.
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