Rinsed, the car wash CRM, announces $12 Million in Series A financing from Bedrock Capital and Founders Fund
NEW YORK, May 2, 2022 /PRNewswire/ -- Rinsed, the car wash CRM, today announced it raised $12 million in Series A financing from Bedrock Capital and Founders Fund. Rinsed helps car washes of all sizes delight their customers and grow their subscription revenue with easy-to-use customer relationship management software. Rinsed integrates with car washes' existing point-of-sale hardware, and enables automated email & text marketing, customer engagement to reduce churn, and online sales directly through their website.
"We are empowering operators with best-in-class subscription management tools built specifically for the needs of the car wash industry," said Austin Esecson, CEO and co-founder of Rinsed. "As the car wash market shifts to a subscription model, the problems faced by operators now extend beyond the driveway to encompass every interaction the wash has with its customers and subscribers."
"At Rinsed, we want to enable car wash operators to imbue every customer interaction with the same quality of a personalized, frictionless experience that they deliver at the wash. That might start with an automated follow-up text to a first-time wash customer, continue with the conversion of that single-wash customer to a subscriber through a single-page online checkout form, and conclude with the user-friendly mobile management of that membership to update their credit card on file. We view each touchpoint as an opportunity to further engage with the customer and ultimately strengthen that underlying relationship."
John Luttig, of Founders Fund said, "Rinsed is the only CRM built to support the $15 billion car wash market. The company is uniquely positioned to help car wash operators enter the digital era by leveraging the increasingly critical subscription model."
Rinsed was founded by Austin Esecson, Sam Logan and Nic Hippenmeyer. The company previously raised an unannounced $3 million Seed Round from Bedrock Capital and Y Combinator along with other angel investors. Mischief additionally participated in both the Seed and Series A.
Rinsed already serves more than 300 car washes and grew annual recurring revenue by over 400% in the past year. Eric Stromberg, co-founder and Managing Partner of Bedrock Capital, will be joining the board as part of this transaction, "The Rinsed team combines deep car wash expertise with experience building scalable technology products. The result is a purpose-built platform for the industry, empowering operators everywhere to build loyal relationships with customers and grow revenue. We first invested in 2020 shortly after the company was started. Given the speed of execution and rapid growth since, we are thrilled to double down and lead the Series A."
The company helps manage over 1 million subscribers for some of the highest volume car wash groups in the country, including Crew Carwash, Metro Express, Mammoth Holdings, Whitewater, and El Car Wash.
Justin Landau, CEO of El Car Wash said, "Rinsed has been instrumental as El Car Wash has grown from 7 to 20+ locations in the South Florida area. Using their tools has helped us better engage with customers, grow our membership base, and reduce churn. Rinsed has helped us modernize the way we manage and grow our business."
Rinsed will use proceeds from the round to continue growing its engineering and customer success teams. The company has offices in downtown Manhattan and Lehi, UT. Rinsed is hiring for both remote and New York-based positions across the organization.
About Rinsed
Rinsed is the first CRM built from the ground up for the $15 billion car wash industry. A better member experience means happier customers, less churn and more subscription revenue. Rinsed helps car washes of all sizes delight their customers and grow their subscription revenue, with easy-to-use features including: an all-in-one customer relationship management platform to automate communications through email & text messages, mobile-optimized checkout forms embedded directly on car wash's websites that increase conversion rates by 10x, and subscription analytics, all fully integrated with the car wash's existing point-of-sale hardware.
For more information, find Rinsed at Booth 1652 at The Car Wash Show in Nashville, or visit www.rinsed.com.
SOURCE Rinsed
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