CHARLOTTE, N.C. — 2ULaundry, a mobile drycleaning laundry pickup and delivery service, recently announced a $20M Series B led by Level 5 Capital Partners (L5), putting the money the business has raised to $25.4M. With this capital injection, 2ULaundry plans to continue scaling physical locations across the country.
“The $46B laundry and drycleaning industry is one that is yet to be innovated at scale and 2ULaundry and LaundroLab (the brick-and-mortar counterpart to 2ULaundry) are on a mission to change that,” says Alex Smereczniak, CEO and co-founder of 2ULaundry. “Our two brands complement each other in that 2ULaundry pickup & 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.”
2ULaundry plans to expand with 20 new locations this year through franchising and additionally is targeting national partnerships to provide services to businesses such as gyms, fitness studios, Airbnb hosts and more. The 2ULaundry subscription offers customers access to services with a guaranteed one-day turnaround, including standard cleaning of everyday laundry and linens, and a hang dry offering.
L5 says it invests in brands with long-term vision to to provide habit-based experiences for individuals. Its portfolio includes early investments in Corepower Yoga and Orangetheory Fitness. L5 provides capital and hands-on support through franchise licensing and retail growth.
“We back companies that bring people together. 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," says Chris Kenny, founder and managing partner of L5 Capital Partners. “2ULaundry is a perfect example of the innovative, people-focused businesses we align with, and we are excited to witness their continued growth.”
In 2021, LaundroLab launched its franchise opportunity. There are currently 29 LaundroLab owners, and 108 licenses have been awarded.
“With 108 licenses sold, a goal of building our team with over 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 as we set out to ‘Make Laundry Happy’ nationwide,” Smereczniak says.
Have a question or comment? E-mail our editor Dave Davis at [email protected].
