Cents Announces $40 Million Series B Financing and Acquisition of Laundroworks

New York – August 8, 2024 – Cooley advised Cents, the top all-in-one business management platform powering garment care small- and medium-sized businesses (SMBs), on its $40 million Series B financing, as well as its acquisition of Laundroworks, a hardware-based payments system powering how consumers pay for laundry at laundromats and shared laundry rooms within multifamily buildings, hotels, universities and more.

Camber Creek led the funding round, with participation from previous investors Bessemer Venture Partners and Tiger Global. Additional strategic investors included Tech Pioneer Fund, RXR Arden Digital Ventures (RADV), Derive Ventures and Alumni Ventures, as well as executives at best-in-class software as a service (SaaS) companies like Toast, Jobber, Squarespace and Stripe. The round brings Cents’ total funding to more than $77 million.

The acquisition of Laundroworks will reinforce Cents’ existing hardware product line.

Lawyers Stephane Levy, Izzy Lubarsky and Andrew Gunther led the Cooley team advising Cents.

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