Rind Rescue: How Spoiler Alert Helps Reduce Food Waste

Addressing Food Waste with Innovative Technology

A significant proportion of global resources are dedicated to the cultivation, processing, distribution, and sale of food. Despite this, a substantial amount of food is wasted, particularly in the United States, where 30% to 40% of all produced food is never eaten. This represents a critical issue that Spoiler Alert is actively working to resolve.

The company recently secured $11 million in funding to expand its operations and further reduce food waste. Spoiler Alert aims to prevent edible food from being discarded, recognizing the detrimental impact of waste on both profitability and the global climate.

Spoiler Alert's Platform and Approach

According to co-founder and CEO Richard Ashenfelter, the core focus is on equipping major food manufacturers with the necessary tools, data-driven insights, and network connections to minimize waste. The goal is to ensure that viable products reach consumers before being disposed of or processed for organic recycling.

The Spoiler Alert platform facilitates the digitization of B2B liquidation processes for leading consumer packaged goods (CPG) companies. Notable clients include industry giants such as Nestlé, Kraft Heinz, Campbell Soup Company, and Danone North America.

Co-founder and CPO Emily Malina emphasizes a fundamental belief: waste should not be considered an unavoidable business expense. All company efforts are directed towards accelerating the movement of perishable goods, benefiting brands, retailers, consumers, and the environment.

The Scale of the Problem and the Company's Mission

Approximately 30% to 40% of the world’s food supply ultimately goes uneaten. Project Drawdown has identified reducing food waste as the most impactful initiative for tackling the global climate crisis. Ashenfelter explains that minimizing food sent to landfills reduces emissions and conserves resources used in production and distribution.

This approach also provides financial advantages to businesses, as they increase sales, reduce write-offs, and lower disposal costs.

Ricky Ashenfelter and Emily Malina, the Spoiler Alert founding team. Image Credits: Liz Linder Photography

Facilitating Liquidation and Embracing Capitalism for Good

Brands utilize Spoiler Alert’s secure platform to efficiently sell surplus, near-expiration, and obsolete inventory. This leads to increased profitability for brands and a more reliable supply of discounted goods for retailers and closeout buyers. The timing of this solution is particularly crucial.

What distinguishes Spoiler Alert is its commitment to addressing this issue within the framework of a capitalist system, seeking to create positive change through market-driven solutions.

A Sustainable Business Model

Ashenfelter, whose background includes an environmental lawyer father and academic focus on private sector solutions to environmental challenges, believes in providing practical, accessible solutions for businesses and consumers to act sustainably. He asserts that successful climate-focused investments must be grounded in a strong business rationale to achieve widespread adoption.

Investment Details

This funding round was spearheaded by Collaborative Fund, with contributions from existing investors, including Acre Venture Partners, The Betsy & Jesse Fink Family Foundation, Maersk Growth, Spring Point Partners and Valley Oak Investments.