Tag Archives: Laundry

Rinse in Chicago

Rinse, a tech-enabled laundry and dry cleaning managed marketplace where we’re investors, announced its Series B funding round in June of this year. At the time of the announcement, Rinse shared that most of the round would go towards expanding into new cities.

The first of these post-round new city expansions is now taking place with Rinse beginning to serve customers in Chicago. This is the fourth city that Rinse is operational in, following San Francisco, Los Angeles, and Washington DC.

If you live in Chicago and want to check out Rinse, you can do so here.

Rinse’s Series B round

Rinse is a tech-enabled laundry and dry cleaning managed marketplace where we’re investors. The company recently announced the closing of its $14M Series B round of funding led by Partech Ventures.

Now that Rinse has solidified its playbook for expanding into geographies and bringing these geographies to contribution margin profitability, it will be using the new funding to apply the same playbook to grow to 10 new US cities. Rinse is currently operational in San Francisco, Los Angeles, and Washington DC, and among the 10 new cities that it will expand to are New York, Chicago, and Boston.

We commend the Rinse team for their decision to achieve operational excellence with their existing model before rolling it out to new cities. This requires patience and this patience eventually pays off.

We also thank Partech and Rinse’s existing investors for continuing to support the company on its exciting journey.

On-demand isn’t always in-demand

In an earlier post entitled “On-demand markets that aren’t”, I used the example of Rinse, a laundry and dry cleaning managed marketplace where we’re investors, to highlight how many markets that at the outset appear to be suitable for on-demand service, and as a result of the hype around on-demand services are often named that way, are in fact not on-demand.

In a recent post entitled “On-demand isn’t always in-demand”, Rinse’s co-founder Ajay Prakash explains why this is the case in much more depth than I did. As Ajay points out, businesses succeed by solving the primary pain points of their customers. And “none of the pain points in dry cleaning, laundry, or any other form of clothing care require an on-demand solution.”

In fact, Ajay argues that other verticals which are also often given as examples of on-demand services, like house cleaning, storage, and car washes, also do not require an on-demand solution.

You can read Ajay’s full post here.