Venture Capital News: Rinse Grabs $3.5M in Seed Round
2015-06-11
San Francisco, CA, Rinse raises $3.5 million in seed capital to expand its coverage area, service offerings, and to continue to provide a best-in-class customer experience.
Available at http://www.rinse.com, on iOS, and Android, Rinse makes the hassle of laundry day and trips to the dry cleaner a thing of the past by providing a convenient delivery platform combined with a suite of services including dry cleaning, launder & press, hang dry, leather care, repairs, and donations.
Rinse credits its stellar reputation, in part, to the application of a strict, five-step vetting process used to identify potential cleaning partners so that only the best of the best are given the opportunity to become a part of the Rinse family.
Dedicated to putting customers' clothing above all, the Rinse team communicates each step of the process, including emailing photos of the items picked up and scheduling service conveniently through SMS.
Their uniquely transparent and unparalleled service captured the attention of noted investors including Arena Ventures, ff Venture Capital, Great Oaks Venture Capital, Accelerator Ventures, MESA Ventures, Expansion Venture Capital, Rothenberg Ventures, Base Ventures, Structure Capital, Otter Rock Capital, and a select group of angels in the fashion industry including founders and executives at Bonobos, Weddington Way, MeUndies and ThirdLove. With this round, Rinse is poised to open new markets and expand its service offerings.
Rinse's commitment to providing quality care starts with its people. 'We invest in finding and training the most qualified vendors and valets so we can provide the best customer experience possible,' says Ajay Prakash, co-founder and CEO of Rinse. As part of that investment, all of Rinse's valets are W-2 employees, as opposed to the industry-standard use of contractors. 'We're excited about the great team we've built so far and look forward to using this funding to take Rinse to new markets and continue to provide an incredible experience for our customers.'
Rinse's commitment to value and responsibility extends beyond its customer and employee base to the community at large. To date, Rinse has already saved San Francisco more than 1MM gallons of water thanks to its laundromat partners' use of environmentally forward processes. Now poised to launch next in Los Angeles, Rinse is ready to become an even bigger part of the answer to California's water conservation crisis.
ABOUT RINSE:
Rinse delivers the highest quality clothing care for people who care about their clothing. Rinse has created a flexible pick-up and delivery experience for its customers, providing door-to-door service to fit their busy schedule. Each item is cleaned and thoroughly inspected before being sent back to the customer. Rinse mends buttons and simple tears free of charge, and works directly with customers on larger repairs. Founded by Ajay Prakash and James Joun, Rinse is the most trusted, most convenient clothing care provider out there. Sign up for Rinse online, or via its mobile app on iOS or Android. For information, please visit http://www.rinse.com.
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