DUNSHORE, Pa. — UnityLab, the company behind Hoffman-NewYorker and Unity Laundry Systems, recently announced that it has raised $4.5 million in funding as part of its strategic Series A round.
The funding was led by Advantage Capital to support the company’s growth as it continues to scale operations and create new jobs at its headquarters and manufacturing facility in Dushore, Pennsylvania. Capital for the investment, which leverages incentives from the Pennsylvania Rural Jobs and Investment Tax Credit Program, includes $2 million from Advantage Capital, $2 million from the Bernstein Pennsylvania Fund and $500,000 from the Ben Franklin Fund.
This latest funding follows an April 2022 investment led by Pennsylvania’s Governor’s Action Team (GAT) and other investment partners that generated more than $2.3 million for UnityLab’s initial acquisition of the Dushore facility from Hoffman-NewYorker. The company states it plans to add as many as 150 jobs while making a significant continued investment in hiring over the next several years.
Hoffman-NewYorker designs, manufactures, and markets garment/apparel presses for garment manufacturers and laundry/dry cleaning presses for retail dry cleaners and commercial laundries. UnityLab, a company that specializes in buying and building brands aimed as small businesses, acquired Hoffman-NewYorker earlier this year.
“We are thrilled to have this financing and close our Series A round,” said UnityLab CEO Jonathan Benjamin. “The Series A round will propel the next phase of growth for UnityLab and its brands and create greater economic opportunity for our workers and their families, and to the deserving citizens of Sullivan County.”
“This latest investment secured through the Pennsylvania Rural Jobs and Investment Tax Credit Program is a testament to how public-private partnerships can drive economic growth in rural Pennsylvania,” said Sam Schlichting, Associate and Pennsylvania Deal Lead at Advantage Capital.
The Ben Franklin Technology Partners of Northeastern PA is managed by The Center for Rural Pennsylvania, a bipartisan legislative resource for the Assembly on rural issues. This is the Fund’s second investment in UnityLab.
Have a question or comment? E-mail our editor Dave Davis at [email protected] .