Cents, a New York City-based provider of an all-in-one business management platform for laundry businesses, has raised $40 million in Series B funding. This latest round brings the company’s total funding to $77 million.
The funding round was led by Camber Creek, with participation from previous investors Bessemer Venture Partners and Tiger Global. Other strategic investors included Tech Pioneer Fund, RXR (RADV), Derive Ventures, Alumni Ventures, and executives from SaaS companies such as Toast, Jobber, Squarespace, and Stripe.
Cents plans to use the funds to expand its presence in the $60 billion garment care and repair industry.
Led by CEO Alex Jekowsky, Cents offers a comprehensive business management platform designed to help laundry business operators grow, manage, and analyze their operations. The platform includes tools for point-of-sale, on-machine payments, revenue tracking, and delivery services, providing a complete solution for the complex needs of laundry businesses.
In addition to the funding, Cents has acquired Laundroworks, a hardware-based payments system used in laundromats and shared laundry facilities in multi-family buildings, hotels, universities, and more. This acquisition will enhance Cents’ existing hardware product line.
