Rinse, a San Francisco-based laundry and dry cleaning delivery service, has raised $14 million in Series B funding. The company has raised $23.5 million to date.
The round was led by Partech Ventures, with participation from the company’s existing investors Javelin Ventures, Arena Ventures, Accelerator Ventures and Structure Capital.
Aslo as part of the investment, Nicolas El Baze, general partner at Partech Ventures, will join Rinse’s board of directors.
“There’s no doubt about it – Rinse has assembled the best team in the industry,” El Baze said in a statement. “They are laser-focused on creating a great customer experience and on scalable execution, and they have deep industry expertise which has been proven by their ability to achieve high growth in a complex market.”
Ajay Prakash and James Joun launched the laundering service in May 2013 with a different spin on the on-demand laundry delivering service model. Instead of having contracted valet’s wait around for customers’ laundry, the company uses part-time, salaried employees and has put in place “smart scheduling” that works with customers’ naturally recurring needs for dry cleaning and laundry.
The company’s services range from laundry delivery, hang dry options, dry cleaning services and clothing donation.
Rinse recenlty expanded to Los Angeles and Washington D.C. and will use the new investment to push expansion to several new markets, including Chicago, Boston, Houston, Dallas, Austin, Seattle, Miami, San Diego, Denver and New York.
“We’re excited to bring our market expansion playbook to new cities with this funding,” Prakash said in a statement. “Washington, D.C. has grown even faster than Los Angeles and San Francisco, proving that the technology and processes we have developed to support the large volume we are seeing in more mature markets will transfer immediately to new cities.”
The funding round will be used to add more members to Rinse’s team, particularly in roles including technology, product, marketing, corporate operations, customer experience and local operations.