Rinsed receives $20 million investment
Rinsed receives a $20 million investment from VMG Technology. With the new capital, the American car wash software developer hopes to strengthen its position on the market.
Rinsed builds what is called ‘customer relationship management software’, specifically for the car wash industry. Over the past year the company has seen a growth of 400%. They now serve over 1,300 car washes nationwide.
Rinsed integrates with car washes’ 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 car wash memberships for many of the highest volume and fastest growing car wash groups in the country.
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“Rinsed has demonstrated an exceptional ability to understand and address the unique needs of the car wash 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, Carle will join the company’s Board.
The funding by VMG 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”, says Austin Esecson, co-founder and CEO of Rinsed. “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 car wash operators.”
Rinsed was founded in 2019 by Austin Esecson, Sam Logan, and Nic Hippenmeyer. 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.