Charlotte startup 2ULaundry raises $20M to fund national expansion

CHARLOTTE – 2ULaundry, a 3-year-old startup with a multi-pronged approach to innovating the $46 billion-a-year laundry industry, has closed on $20 million in new funding and plans to use the capital for a nationwide expansion plan.

The company offers both delivery for laundry and dry cleaning as well as “brick and mortar” laundries under the LaundroLab brand which offers a wide variety of features.

Its plans call for 20 additional locations and national partnerships with gyms, Airbnb hosts, and more.

“The average family of four spends over 36 hours a month doing laundry. That’s almost an entire work week,” co-founder Dan D’Aquisto, 27, told WRAL TechWire in 2019. “We give our customers their time back through an innovative and effortless solution to laundry and dry cleaning.”

A franchising effort has led to 29 LaundroLabs with another 108 licenses having been awarded.

Delivery services include one-day turnaround for laundry services.

“The $46B laundry and dry cleaning industry is one that is yet to be innovated at scale and 2ULaundry and LaundroLab are on a mission to change that. Our two brands compliment 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,”shared Alex Smereczniak, CEO and co-founder of 2ULaundry in the announcement.  “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.”

Providing the capital is L5 Capital Partners.

“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,” shared 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.”