Mobile laundry pickup-and-delivery service 2ULaundry recently announced a $20 million Series B funding, which was led by Level 5 Capital Partners. To date, the company has raised $25.4 million. With this capital injection, 2ULaundry plans to continue scaling physical locations, making its services accessible across the U.S., according to the company.
2ULaundry’s brick-and-mortar laundromat counterpart, LaundroLab, was founded in 2020. And, in 2021, the LaundroLab concept launched as a franchise opportunity. There are currently 29 LaundroLab owners.
The company plans to expand with 20 new locations this year and is targeting national partnerships to provide services to businesses such as gyms, fitness studios, Airbnb hosts, and others. The 2ULaundry subscription service offers customers access to a full suite of laundry services with a guaranteed one-day turnaround, including standard cleaning of everyday laundry and linens, as well as a hang-dry offering.
“The $46 billion laundry and drycleaning industry is one that is yet to be innovated at scale, and 2ULaundry and LaundroLab are on a mission to change that,” said Alex Smereczniak, CEO and co-founder of 2ULaundry. “Our two brands complement each other in that 2ULaundry pickup-and-delivery volume gets layered on top of modern, tech-enabled, franchised LaundroLabs. The result is a franchisee with store revenues that far exceed your traditional coin laundry.
“With 108 licenses sold, a goal of building our team with more than 350 hires, and opening 25 new stores in the next 12 months, we are focused on scaling thoughtfully, and our partnership with L5 equips us with the resources to do so.”
“We back companies that bring people together,” noted Chris Kenny, founder and managing partner of L5 Capital Partners. “As the market for community- and habit-based businesses continues to grow in this post-lockdown world, L5 Capital Partners stands at the forefront of this exciting time for brick-and-mortar businesses. 2ULaundry is a perfect example of the innovative, people-focused businesses we align with, and we are excited to witness their continued growth.”
