Series D Announcement
San Francisco, CA – February 20, 2025 – Rinse, the leading tech-enabled laundry service, announced it raised a $23 million Series D funding round, led by LG Electronics. This investment marks a pivotal moment in Rinse’s mission to make laundry more convenient, efficient, and accessible for consumers and businesses alike.
With a decade of experience revolutionizing the $40 billion laundry industry, Rinse has built a seamless, tech-driven service that eliminates the hassle of laundry for customers across major U.S. metro areas. This latest funding will propel Rinse into its next stage of growth, expanding its reach, investing in innovation, and strengthening its leadership position in laundry services outside the home.
A Growing Demand for Tech-Enabled Laundry Solutions
As consumer behavior continues to shift toward convenience-first, tech-powered services, Rinse is uniquely positioned to meet the demand for a modern, frictionless laundry experience. Just as food delivery, ride-sharing, and e-commerce have redefined their industries, Rinse is bringing the same level of innovation and convenience to laundry.
“The way people manage everyday tasks is evolving—consumers are seeking seamless, tech-enabled solutions that make life easier,” said Ajay Prakash, Co-Founder and CEO of Rinse. “Rinse was built to modernize an essential but traditionally inconvenient chore. With this latest investment, we’re well on our way to becoming a household name and the leader in all laundry outside the home.”
Fueling Growth, Expansion, and Innovation
Rinse’s Series D funding will support key initiatives, including:
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Expanding market reach – Scaling Rinse’s footprint in existing and new cities to serve more customers.
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Exploring omnichannel growth – Rinse plans to acquire laundromats, establish a physical presence, and expand its fast-growing B2B services.
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Investing in technology and operations – Enhancing platform capabilities to further streamline logistics and improve customer experience.
A Decade of Leadership and Strategic Growth
Founded in 2013 by Ajay Prakash and James Joun, Rinse started as a simple idea: make laundry effortless. What began as a small operation serving friends in San Francisco has grown into a nationwide laundry powerhouse, handling over 100 million garments and serving thousands of customers across 10 major metro areas.
Throughout its journey, Rinse has outlasted competitors and adapted to shifting market dynamics, focusing on sustainable growth, operational efficiency, and superior service quality. Today, Rinse operates with a team of over 100 corporate employees and 600 valets, all W2 employees, ensuring a reliable, high-quality customer experience.
The Future of Laundry, Powered by Rinse
With LG Electronics doubling down on its investment, Rinse is entering its most exciting phase yet. The company is not only scaling its consumer and business services but also eyeing global expansion, with Toronto set to launch later this year.
“This is more than just a funding milestone—it’s a validation of our vision,” said Prakash. “We don’t just want to clean clothes. We want to power laundry everywhere, making it effortless for individuals, families, and businesses.”
Read more about our exciting fundraise here:
Laundry Delivery Startup Rinse Raises $23 Million Funding Round from Appliance-Maker LG.
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