HomeUSACents Raises $40M in Series B Funding

Cents Raises $40M in Series B Funding

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Cents

Cents, a NYC-based provider of an all-in-one business management platform for laundry businesses, raised $40M in Series B funding.

The round, which brought the total amount to $77M, was led by Camber Creek with participation from previous investors Bessemer Venture Partners and Tiger Global. Additional strategic investors included Tech Pioneer Fund, RXR (RADV), Derive Ventures, Alumni Ventures, as well as executives at SaaS companies like Toast, Jobber, Squarespace, and Stripe.

The company intends to use the funds to expand its business reach in theĀ $60 BillionĀ garment care and repair space.

Led by CEO Alex Jekowsky, CentsĀ provides a business management platform that helps laundry business operators grow, manage, and understand their business. With tools for point-of-sale, on-machine payments, revenue tracking, point-of-sale, and delivery services, the company offers an all-in-one solution for managing the complexities of a laundry business.

In addition to the financing, Cents 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.

FinSMEs

08/08/2024

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