Laundry is rarely top of mind for consumers until a machine breaks down or a payment system fails. Yet, operators keeping the industry afloat often rely on outdated infrastructure and fragmented tools. It is this inefficiency that Cents, a laundry technology startup, is seeking to address.
The company has now raised $140 million in Series C funding, in a deal led by Sumeru Equity Partners with participation from Camber Creek.
The investment marks the largest single software funding round in the laundry sector to date, underlining a growing recognition among investors that even the most traditional industries are ripe for digital transformation.
Building the “Operating System” for Laundry Businesses
Cents is positioning itself as a comprehensive operating system for laundromats and garment-care providers. Its platform integrates business management software, payment processing, and in-store hardware into a unified ecosystem.
For operators, this means replacing multiple disconnected tools with a single interface that provides real-time visibility into machine usage, customer transactions, and overall business performance.
At the heart of the platform is an AI-driven software layer paired with proprietary payment hardware installed directly onto machines. The system supports a range of functions, including point-of-sale services, automated customer messaging, and logistics for pickup and delivery operations.
Alex Jekowsky, Co-Founder and Chief Executive of Cents, described the mission as both economic and cultural.
“Owning a laundry business is one of the purest expressions of the American entrepreneurial dream, and provides an essential service woven into the fabric of our everyday lives. These entrepreneurs all share the same relentless drive,” he said Alex Jekowsky.
A Vast but Underserved Market
The scale of the opportunity is significant. In the United States alone, there are more than 90,000 retail laundry businesses, alongside hundreds of thousands of shared laundry facilities in apartment complexes and multi-family housing.
Despite this footprint, much of the industry continues to depend on coin-operated machines and legacy systems that offer limited data insights and operational efficiency.
Cents is betting that a unified, digital-first platform can unlock growth in a market that has historically been slow to evolve.
Investor Confidence in a Niche with Global Potential
Investors increasingly view Cents as more than a niche software provider. Sumeru Equity Partners highlighted the company’s “operator-first” approach, particularly its efforts to streamline both operations and payments across the broader garment-care ecosystem.
The funding will support an ambitious expansion strategy. Cents plans to enhance its AI capabilities, scale its hardware deployment, and extend its reach across laundromats, dry cleaners, and route-based laundry services.
The company is also investing heavily in customer support, an essential feature in an industry where even brief downtime can result in immediate revenue losses.
As part of the agreement, Sumeru Co-Founder and Managing Partner Sanjeet Mitra will join the company’s board, strengthening governance as the firm enters its next growth phase.
“I couldn’t be more thrilled to partner with Sumeru to invest deeper in our industry and to bring a level of innovation, support, and service that these operators deserve,” said Alex Jekowsky.
Early Traction and a Turning Point for the Industry
Cents reports that its platform is already in use across more than 4,500 locations, collectively processing approximately $1 billion in payments annually. This early adoption suggests a growing appetite among operators for modern, integrated solutions.
More broadly, the shift reflects a turning point for the laundry industry itself. What was once dominated by coins, manual tracking, and isolated systems is gradually transitioning towards connected infrastructure, digital payments, and real-time data analytics.
For a business built on routine and reliability, such transformation is notable.
Cents is positioning itself at the centre of this evolution, seeking not to change the essential service, but to fundamentally improve how it is delivered.
Talking Points
It is notable that Cents is targeting one of the most overlooked yet essential service industries with a deeply integrated technology solution, bringing modern infrastructure to a space that has long operated on fragmented and outdated systems.
This approach, combining software, payments, and hardware into one platform, positions Cents as more than just a service provider; it is effectively building the operating system for the modern laundry business.
At Techparley, we see this as a strong example of how vertical SaaS is evolving, where startups are no longer just digitising workflows but completely rethinking how traditional businesses operate.
The platform’s AI-driven capabilities stand out, particularly in giving operators real-time visibility into performance, machine usage, and customer transactions, tools that have historically been out of reach for most small and mid-sized laundry operators.
The market opportunity is also significant. With thousands of laundromats and shared laundry facilities still relying on legacy systems, the shift towards integrated, data-driven operations is both necessary and inevitable.
As Cents scales, exploring partnerships and localisation strategies could accelerate its global expansion. With the right execution, it has the potential to not only modernise laundry operations but also set a new standard for how traditional service industries adopt technology.
——————-
Bookmark Techparley.com for the most insightful technology news from the African continent.
Follow us on Twitter @Techparleynews, on Facebook at Techparley Africa, on LinkedIn at Techparley Africa, or on Instagram at Techparleynews.
