NEW YORK — Cents, an all-in-one business platform serving laundromats and other textile care businesses, reports the close of its $40 million Series B funding round.
Launched in 2021, Cents provides point-of-sale, online ordering, payments hardware, marketing tools, and business management software for all garment care and vended laundry businesses, including laundromats, dry cleaners, alterations, and shared laundry rooms.
The platform says it powers over 2,700 retail laundries, about 1 in 14 U.S. laundromats, and over 3,500 shared laundry rooms, and is continuing to invest in new product development to serve all garment care businesses with the funding.
The new financing brings Cents’ total funding to over $77 million.
“Local laundry businesses provide an essential service, and [they] deserve best-in-class technology and support to provide that service while generating strong ROIs,” says Alex Jekowsky, CEO and co-founder of Cents. “We have dedicated ourselves to this industry and the unique needs of our customers. It’s a privilege to have the trust and support of our customers as we’ve continued to grow, and our entire team feels the weight of our responsibility to build innovative solutions that support their business goals.”
Camber Creek led the funding round, with participation from previous investors Bessemer Venture Partners and Tiger Global. Additional strategic investors included Tech Pioneer Fund, RXR (RADV), Derive Ventures and Alumni Ventures, as well as executives at best-in-class SaaS companies like Toast, Jobber, Squarespace and Stripe.
Additionally, Cents reports that it has acquired Laundroworks, a hardware-based payments system powering how consumers pay for laundry at laundromats and shared laundry rooms within multi-family buildings, hotels, universities and more, to reinforce its existing hardware product line. The two had announced entering into a partnership in March.
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