Rinse, the San Francisco-based dry cleaning and laundry delivery service, has closed a $14M Series B round of funding. This comes after a $6M Series A last year, meaning the startup has now raised about $23.5M in three rounds. The round is being led by Partech Ventures, with participation from existing investors including Javelin Ventures, Arena Ventures, Accelerator Ventures, and Structure Capital. Rinse was started in 2013, at the height of the on-demand boom. At the time companies like Washio (which is now shut down) offered to pick up your dry cleaning within an hour and return it the next day. But Rinse had a different model. Sticking to the belief that no one really needed their dry cleaning picked up within an hour, Rinse focused on nightly pickups between 8-10pm with standard return times (unless you wanted to pay extra for faster service).
VIDEO: Rinse CEO Ajay Prakash On Stage with Jeff Lawson at Twilio's SIGNAL Developer Conference
Rinse raises $6 million to expand its laundry pick-up and delivery service
Rinse Inc. has raised a $6 million Series A round of venture funding to pick up and clean anything in its customers’ closets. According to Chief Executive Ajay Prakash, who cofounded Rinse in 2013 with Chief Operating Officer James Joun, “We never wanted to b Uber for laundry, and don’t consider ourselves an on-demand business.”