Rinsed announces $20 million in Series B financing

Rinsed announces $20 million in Series B financing from VMG Technology

NEW YORK — The funding round will enable Rinsed to further invest in expanding its membership-focused CRM.

NEW YORK — Rinsed announced in a press release a $20 million Series B investment from VMG Technology.

The company reports that it has seen significant demand for its customer relationship management software (CRM) platform, now serving over 1,300 carwashes nationwide (an increase of over 400% in the past year).

Rinsed integrates with carwashes’ existing point-of-sale hardware, enables automated email and text marketing, streamlines customer engagement to reduce churn, increases online sale conversion, and provides actionable business insights.

The company helps manage over 4 million active carwash memberships for many of the highest volume and fastest growing carwash groups in the country.

This funding round will enable Rinsed to further invest in development with a focus on expanding its membership-focused CRM to include retail wash customers.

“With all the excitement and growth in the membership model, the retail customer and their experience have been largely neglected. This is a problem we hear constantly from our customers, and we are excited to use this funding to double-down on the development of a complete solution for carwash operators,” said Austin Esecson, co-founder and CEO of Rinsed. “By bringing the same segmentation, personalized messaging and online sales capabilities to the retail customers, we can help our carwash partners grow even faster.”

“Rinsed has transformed the way we leverage data and given us the technology to increase new member signups and reduce churn,” said Blake Newman of Rocket Carwash. “The Rinsed team works with us to understand our business and provides the tools our leaders need to grow the business effectively. We are very excited about this new funding, which will allow Rinsed to equip operators with even better day-to-day insights, more advanced technology and tools that make a difference in our bottom line.”

The company previously announced $15 million in capital raised across its Series A and Seed rounds from Bedrock Capital, Founders Fund, Y Combinator and Mischief.

“Rinsed has demonstrated an exceptional ability to understand and address the unique needs of the carwash industry. VMG is thrilled to support their vision and growth as they continue to innovate,” said Carle Stenmark, general partner at VMG. As part of this transaction, Stenmark will join the company’s board.

Rinsed will use proceeds from the round to continue growing its engineering, data and customer success teams.

The company has offices in Greenwich Village in Manhattan and in Lehi, Utah. Rinsed is hiring for both remote and New York-based positions across the organization.

For more information, find Rinsed at Booth 1703 at The Car Wash Show in Las Vegas, or visit www.rinsed.com.

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