5520 Nobel Dr., Suite 125, Fitchburg, WI 53711
Founded in 2012, PegEx, Inc. was formed to offer services, as a waste broker, to the hazardous waste industry. They formed a nation-wide network of waste haulers and disposal facilities to help customers manage the hazardous and regulated waste products they produced as a part of their business operations. The original office of around 10 people was located at 5500 Nobel Dr. Suite 200, Fitchburg, Wisconsin. The Fitchburg location was selected because a thriving tech campus was beginning to grow in the area and was well suited with solid infrastructure and reasonable real-estate pricing for a young start-up.
The start-up was soon bolstered with funding from several Wisconsin-based angel investors and the company began to grow. The original focus as a hazardous waste broker began to change a bit as the company began to see the advantages that technology could bring to the waste industry. Using software technology to automate and speed up the business processes was a novel idea in an industry that was just beginning to adopt technology.
In 2013 the office was moved to 2693 Research Park Drive, just above Park Bank, as additional employees were added to the team. Although there were several software packages available at the time, none of them really matched up to the specific needs of the waste management industry. The company began to explore the idea of creating their own software platform.
In 2016 two major institutional investors were brought on board to accelerate growth: Capitol Midwest and Wisc Partners. Eric Apfelbach was brought on board as CEO for his knowledge of the industry and past experience in bringing new ideas to a market.
The decision was made to create custom software to meet the specific needs of the highly regulated waste industry. Between 2016 and 2017 revenue grew by 65%. Additional employees were added to the roster and a development team was formed. The initial development was intended for internal use only, but as the Platform took shape it was clear to see that this was a commercially viable product.
2017 decision was made to commercialize the software development and release it as a fully enabled industry-cloud SaaS (Software as a Service) Platform. More developers were added to the team and the company quickly outgrew its offices above the bank. In December of 2018 they moved back to Nobel Drive. This time to New Venture Center I, at 5520 Nobel Dr. in Fitchburg.
By August of 2018 the first beta was released and a sales team was formed to focus on the sale of the newly minted PegEx Platform. By January of 2019 the Platform moved out of the beta stage and was ready for prime time. To date a wide variety of waste industry companies have adopted the PegEx Platform as their business management system including hazardous, medical, solid, and chemical waste companies.
Even as the software began to take off, the company continued to offer brokerage services nationwide, utilizing their own software.
The business has been growing right along with Fitchburg, which is rapidly establishing itself as one of Wisconsin’s hi-tech launching pads.