Cents, a New York-based all-in-one business management platform for garment care SMBs, has raised $40 million in Series B funding, bringing its total funding to over $77 million.
Investors
The round was led by Camber Creek, with participation from previous investors Bessemer Venture Partners and Tiger Global, alongside strategic investors like Tech Pioneer Fund, RXR (RADV), Derive Ventures, Alumni Ventures, and executives from leading SaaS companies such as Toast, Jobber, Squarespace, and Stripe.
Founded in 2011, Camber Creek is a venture capital firm specializing in real estate technology. With nearly $1 billion in assets under management, the firm has a strong track record of delivering top returns, driving value for startups, and achieving successful exits. Camber Creek operates from offices in Washington, DC, New York, and Miami.
Cents Use of Funds
The company plans to use the funding to further invest in product development to continue serving the garment care industry.
About Cents
Launched in 2021, Cents offers POS systems, online ordering, payment hardware, marketing tools, and comprehensive business management software tailored for laundromats, dry cleaners, and other garment care businesses. The platform covers everything from laundry intake to delivery, machine handling, employee scheduling, delivery driver management, website creation, and online payments. Cents currently supports over 2,700 retail laundries and more than 3,500 shared laundry rooms, representing approximately 1 in 14 laundromats in the U.S.
Funding Details
Company: Make Cents Technologies Incorporated
Raised: $40.0M
Round: Series B
Funding Month: August 2024
Lead Investor: Camber Creek
Additional Investors: Bessemer Venture Partners, Tiger Global, Tech Pioneer Fund, RXR (RADV), Derive Ventures, Alumni Ventures
Company Website: https://www.trycents.com/
Software Category: Laundry Business Management
Source: https://www.trycents.com/news/cents-announces-40m-series-b-funding