Where is Return Home now? 'Shark Tank' green burial company CEO believes firm will reach $40 million valuation in 2024
AUBURN, WASHINGTON: Micah Truman is the CEO of a 4-year-old Auburn, Washington startup called Return Home.
Return Home is the first large-scale human composting facility and only the second facility for human composting worldwide. The company focuses on transforming human remains into compost within a relatively short period of 60 to 90 days. The company positions itself as an environmentally-friendly and cost-efficient alternative to cremation and traditional burials.
Brie Smith currently serves as the Service Director, while Katey Houston holds the position of Services Manager at the company. Human composting, also known as natural organic reduction, is legal in only seven states across the United States. Therefore, Return Home, recognizing the significance of this eco-friendly alternative in the funeral industry, has been actively advocating for legislative changes to expand human composting services to additional states.
After appearing on 'Shark Tank' Micah Truman has expressed his disappointment with the Sharks' decision not to invest in his company. However, he has chosen to stand by the $40 million valuation for Return Home for two significant reasons.
Truman firmly believes that the Return Home terramation method marks a seismic shift in the death care industry, likening it to a tidal wave rather than merely another addition. He underscores that this innovation heralds the first major disposition method since the Civil War, positioning their approach as both revolutionary and impactful. Additionally, Truman sees the valuation as a way to prompt an important conversation about the true worth of supporting loved ones during their toughest moments.
By pricing it at $40 million, Return Home boldly challenges individuals to contemplate the worth of compassionate and sustainable end-of-life services. Truman sees their feature on 'Shark Tank' as a catalyst for initiating this vital conversation, recognizing that in contemporary society, a higher price often captures attention and stimulates discussions about underlying societal concerns.
What happened to Return Home on Shark Tank?
During their appearance on 'Shark Tank', Micha Truman and Katey Houston, the founders of Return Home, aimed to introduce a new option to the funeral market for handling the remains of loved ones. Their company specializes in composting as an alternative to traditional methods, driven by concerns about the environmental impact of caskets and cremation.
Termination, with its distinctive process, transforms human bodies into soil within 60-90 days, providing what they define as a more sustainable end-of-life service priced at $5,500. Katey, leveraging her experience as a funeral director, is deeply committed to aiding grieving families. Meanwhile, Micha, having spent two decades with The Knot in China, sought to establish a business that positively contributes to the world upon his return to the States."
"In terms of sales, they reached $350,000 in the year before filming, and by the second quarter of the filming year, they matched that amount, with continued growth. Despite securing a $5 million investment, they are currently operating at a loss. However, their proposed $40 million valuation took the Sharks by surprise and raised concerns
Kevin O'Leary questioned their valuation and pricing strategy, especially given traditional burials cost around $8,000 and cremation is slightly less expensive. He ultimately opted out of the deal, followed by Daniel Lubetzky, Daymond John, and Lori Greiner, who also had reservations about the valuation and the company's approach.
The episode ended with none of the Sharks making an offer, with Lori suggesting that Return Home needs to reevaluate their valuation before seeking investment.
What is the story behind Return Home?
Micah Truman has talked about his journey from a finance career in China to becoming the founder of Return Home in the United States. His company Return Home specializes in terramation, or composting human bodies after death. He explained that his shift in focus stemmed from a desire to contribute meaningfully to the world and leave a sustainable legacy for future generations.
Living in Washington State, the first in the US to legalize terramation in 2019, Micah became intrigued by this eco-friendly alternative to traditional funeral practices. His realization was further sparked by a conversation with his mother, who expressed openness to terramation. This unexpected discussion with family and friends prompted Micah to delve deeper into the environmental impact of conventional cremation and burial methods.
He highlighted the environmental drawbacks of cremation, which emits significant carbon dioxide and uses substantial fuel, as well as the space consumption and chemical use associated with conventional burial. In contrast, terramation, or in-vessel composting, offers a sustainable solution by transforming human remains into nutrient-rich soil over 60 days using minimal energy and natural processes.
Micah outlined the process, which involves placing the body in a sealed vessel with organic materials such as alfalfa straw and sawdust. This setup allows microbes to break down the remains into nutrient-rich soil. The resulting soil is odorless and environmentally beneficial, completing the cycle of life in a gentle and eco-friendly manner.
Reflecting on his journey, Micah expressed astonishment at the profound impact and positive reception of terramation, highlighting the transformative power of embracing sustainable practices even in end-of-life services.
View this post on Instagram
Micah Truman talked about how producers from 'Shark Tank' reached out to him
Return Home's invitation to appear on 'Shark Tank' came unconventionally. Normally, companies must apply for an opportunity to pitch their ideas on the show. Therefore, when the show's producers reached out to Micah Truman, he initially suspected it was a prank call.
"They said they had seen us on TikTok," Truman explained. "They had watched through those videos and had seen what we do and who we are and then decided, 'You know what this is? These are our people!'" It was a surprising turn of events that led to Return Home's appearance on 'Shark Tank'.
Instead of actively seeking the spotlight, Truman and his team had to carefully consider the implications of showcasing their green burial company, Return Home, on national television.
Katey Houston, Return Home's Service Manager and a licensed funeral director and embalmer, shared the internal deliberation: "We had to turn around and ask, is this the exposure that we want for this industry? Do we potentially want to put our families we've served out there on TV? For me, it was all about the protection of my families. I don't want anything bad to be said about a decision that they've made for their loved one."
The decision ultimately rested on the potential benefits of sharing their innovative approach, Terramation, with millions of viewers across the United States. Truman highlighted the opportunity to present some positive news from an industry often portrayed negatively: "The news from the funeral industry is never good, right? It's always awful. Also, we tend to lump together all deathcare companies, but Return Home is so profoundly different from anything else out there."
When considering the potential distress to families against the opportunity to raise awareness and promote positive messaging, Truman and his team concluded that the exposure and chance to educate about their distinctive method of disposition outweighed their concerns.
What are Return Home's entrepreneurs Micha Truman and Katey Houston currently up to after appearing on 'Shark Tank'?
Since their appearance on 'Shark Tank,' Return Home's entrepreneurs Micha Truman and Katey Houston have witnessed a significant surge in demand for their services. Truman pointed out that an increasing number of families are opting for their services and maintaining emotional connections with them. He shared a touching example, saying, "If a mother loses her son, she'll come every day and sit beside the terramation vessel."
The company has been responsive to special requests from families, including additions like flowers, remnants of wedding cakes, love letters, and even flags or homemade blankets into the vessel. Truman underscored their willingness to incorporate organic and sentimental items into the process, which reflects the personalized and compassionate approach of Return Home.
Truman admires Houston's achievements and contributions to Return Home, particularly her representation of the company on Shark Tank. "For a 33-year-old young female funeral director to go out and stand in front of the Sharks and talk about a completely new way of caring for our people when they die is, I think, one of the more remarkable things that happened," Truman expressed. "That’s really scary, and we didn’t know how it was going to go. For Katey to go there and do that and to carry herself with that, and to listen to her and realize all she’s thinking about is how she can protect and advocate for her families just speaks volumes for our young directors that are coming in."
Houston had the chance to showcase her speaking skills again in February during TerraCon 2024: The First Annual Terramation (Body Composting) Conference. The two-day event features captivating presentations and panels covering the "science, legislative triumphs, cultural contexts, industry perspectives, and personal narratives surrounding body composting."
TerraCon kicked off with a keynote address by BJ Miller, a renowned hospice innovator, TED Talk luminary, and a personal "idol" of Micah Truman. Truman fervently sought Miller's participation in the conference, acknowledging him as a legendary figure and an articulate speaker. In addition, Oregon State Representative Pam Marsh, a key sponsor of Oregon's human composting bill and with a personal tie to Return Home, was also a featured speaker at the event.
Other notable presenters on the extensive agenda included mortality composter and soil scientist Dr John Paul, Terramation operations director Chris Stone, green burial expert Brian Flowers, renowned cemetery landscape architect Lees + Associates, and more. Families who had utilized Return Home's services in the past also shared their experiences, and attendees had the option to opt for tours of the Return Home facility in Auburn, Washington.
Return Home recently sought help from Maryland for the Green Death Care Options Act to legalize terramation
Return Home has recently taken a proactive stance in advocating for the legalization of terramation by rallying support for the Green Death Care Options Act in Maryland. Utilizing their Instagram page, they urged their followers to engage in this significant decision-making process
In their post, Return Home highlighted the significance of Maryland potentially becoming the next state to legalize natural organic reduction, also known as terramation. They urged their audience to take action by calling the House Health and Government Operations Committee before the end of March 1st and the Senate Education, Energy, and Environment Committee before March 8th.
The Instagram post also provided specific phone numbers for making calls to the committees, emphasizing that every call is crucial for advocating for greener and more gentle death care options. Return Home emphasized that this initiative goes beyond terramation; it's about promoting environmentally friendly practices for the future.
In their closing statement, Return Home encouraged Marylanders to take action and be part of this important decision-making process, emphasizing the impact of their efforts on shaping greener tomorrows in death care.
View this post on Instagram
‘Shark Tank’ Season 15 airs on Fridays on ABC at 8 pm ET. For those who missed the episode, it will be available on demand the following day and on Hulu. Additionally, viewers can explore past seasons and episodes on Amazon Prime Video and iTunes.