Cents, a NYC-based integrated software, hardware, and payments technology platform built for the laundry industry, has raised $140 million in a Series C funding round led by Sumeru Equity Partners.
The round also saw other investors, Camber Creek. Sumeru Managing Partner & Co-Founder, Sanjeet Mitra, joined the board of directors.
The company plans to use the funds to grow its operations and continue developing its products.
Cents is a fully integrated platform built for the laundry industry, combining software, hardware, and payment solutions. It uses AI-powered tools, proprietary hardware, and built-in payments to help business owners manage operations, grow their business, and provide great customer experiences.
With over 90,000 retail laundry businesses and hundreds of thousands of laundry rooms in U.S. communities, the laundry services industry is an essential service that is ready for major technological improvement.
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Sumeru and Camber Creek’s investment will support Cents’ next stage of growth. The company plans to improve its AI-powered products, invest more in customer support and experience, expand its offerings for laundromats and dry cleaners, and strengthen partnerships with route operators and equipment distributors. The funding will also help develop new payment hardware, making modern payment options more affordable, and accessible for customers.
“Owning a laundry business is a true example of the entrepreneurial dream and an essential part of everyday life,” said Alex Jekowsky, Co-Founder & CEO of Cents. “From new owners to experienced operators, they all share a strong determination. We’re excited to partner with Sumeru to bring more innovation, support, and better service to this industry.”
“Alex, Gilli, and the Cents team have built a leading platform for modern laundry and garment care businesses,” said Sumeru Growth Partner Chris Litster and Principal Nathan Stanley. “This is an important global industry, and Cents has helped improve it by digitizing operations and payments, allowing businesses to run more efficiently. With a strong focus on operators, Cents has created a powerful product suite that helps small and medium businesses grow, manage, and understand their operations better. We’re excited to partner with the team and see what they build next for their growing customers.”
About Cents
Founded in 2019 by Alex Jekowsky and Gilli Cherrin, Cents is an all-in-one platform for managing laundry businesses. It helps owners grow, manage, and understand their operations. Used by over 4,500 laundromats processing $1 billion in payments each year, Cents offers tools for point-of-sale, machine payments, marketing, AI customer service, and pickup and delivery services. Built for laundromats, dry cleaners, and multi-family properties, Cents focuses on improving the industry with modern technology and strong support.
About Sumeru Equity Partners
Founded by John Brennan and George Kadifa, Sumeru Equity Partners provides growth capital to companies combining people and innovative technology. The firm supports founders and management teams with funding and help in scaling their businesses. Sumeru has invested over $3 billion in more than 50 companies across areas like enterprise and vertical software, data analytics, education technology, infrastructure software, and cybersecurity, mainly in North America and Europe.
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