Cents Secures $140 Million Series C to Scale AI-Driven Laundry Platform and Payments Hardware

New updates have been reported about Cents.

Cents has raised $140 million in Series C financing led by Sumeru Equity Partners, with participation from existing investor Camber Creek, marking the largest known software investment to date in the laundry-services vertical. The capital positions Cents to accelerate its role as the core operating system for laundromats, dry cleaners, and multi-family laundry operators across the U.S. and beyond.

The company plans to deploy the funding to expand its AI-native software suite, strengthen customer support, and broaden its product footprint across in-store operations, pickup and delivery services, and partner channels such as route operators and equipment distributors. Cents will also invest heavily in proprietary payments hardware aimed at lowering costs and improving access to modern, integrated payment experiences for both operators and end customers.

Cents’ platform combines business management software, machine-connected hardware, and embedded payments, offering operators tools for point of sale, on-machine payments, marketing automation, and AI-powered customer service. The company reports it now supports more than 4,500 laundromat locations processing roughly $1 billion in payments annually, signaling growing penetration in a fragmented market of over 90,000 retail laundry businesses and hundreds of thousands of multi-family laundry rooms in the U.S.

CEO and Co-Founder Alex Jekowsky framed the raise as a commitment to deepen investment in a traditionally under-digitized but essential small-business sector, emphasizing an operator-first product roadmap. Sumeru executives highlighted Cents as the leading software backbone for modern laundry and garment-care SMBs, citing its impact on digitizing 24/7 operations and data visibility for owners.

As part of the transaction, Sumeru Managing Partner and Co-Founder Sanjeet Mitra will join Cents’ board, adding growth-equity oversight as the company moves into its next phase of scale. For executives, the round underscores a thesis that vertical-specific, AI-enabled platforms with integrated payments can consolidate and modernize even mature, non-cyclical service categories like laundry, potentially improving unit economics for thousands of small operators while creating a defensible category leader in Cents.