Rinsed announces $12 million in financing

Rinsed announces $12 million in financing

NEW YORK — The carwash customer relationship management system received Series A funding from Bedrock Capital and Founders Fund.

NEW YORK — Rinsed, the carwash CRM, recently announced in a press release that it raised $12 million in Series A financing from Bedrock Capital and Founders Fund.

Rinsed helps carwashes of all sizes serve customers and grow subscription revenue with easy-to-use customer relationship management (CRM) software.

Rinsed integrates with carwashes’ existing point-of-sale hardware and enables automated email and text marketing, customer engagement to reduce churn and online sales directly through its website.

“We are empowering operators with best-in-class subscription management tools built specifically for the needs of the carwash industry,” said Austin Esecson, CEO and co-founder of Rinsed. “As the carwash market shifts to a subscription model, the problems faced by operators now extend beyond the driveway to encompass every interaction the wash has with its customers and subscribers.”

“At Rinsed, we want to enable carwash operators to imbue every customer interaction with the same quality of a personalized, frictionless experience that they deliver at the wash,” continued Esecson. “That might start with an automated follow-up text to a first-time wash customer, continue with the conversion of that single-wash customer to a subscriber through a single-page online checkout form, and conclude with the user-friendly mobile management of that membership to update their credit card on file. We view each touchpoint as an opportunity to further engage with the customer and ultimately strengthen that underlying relationship.”

John Luttig of Founders Fund said. “Rinsed is the only CRM built to support the $15 billion carwash market. The company is uniquely positioned to help carwash operators enter the digital era by leveraging the increasingly critical subscription model.”

Rinsed was founded by Austin Esecson, Sam Logan and Nic Hippenmeyer.

The company previously raised an unannounced $3 million Seed Round from Bedrock Capital and Y Combinator along with other angel investors.

Rinsed already serves more than 300 carwashes and grew annual recurring revenue by over 400% in the past year.

Eric Stromberg, co-founder and managing partner of Bedrock Capital, will be joining the board as part of this transaction.

Stromberg said, “The Rinsed team combines deep carwash expertise with experience building scalable technology products. The result is a purpose-built platform for the industry, empowering operators everywhere to build loyal relationships with customers and grow revenue. We first invested in 2020 shortly after the company was started. Given the speed of execution and rapid growth since, we are thrilled to double down and lead the Series A.”

The company helps manage over 1 million subscribers for some of the highest volume carwash groups in the country, including Crew Carwash, Metro Express, Mammoth Holdings, WhiteWater Express and El Car Wash.

Justin Landau, CEO of El Car Wash, said, “Rinsed has been instrumental as El Car Wash has grown from seven to 20-plus locations in the South Florida area. Using their tools has helped us better engage with customers, grow our membership base and reduce churn. Rinsed has helped us modernize the way we manage and grow our business.”

Rinsed will use proceeds from the round to continue growing its engineering and customer success teams. The company has offices in downtown Manhattan and Lehi, Utah.

Rinsed is hiring for both remote and New York-based positions across the organization.

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