Car Wash customer relationship management (CRM) company Rinsed announced a $20 million Series B investment from VMG Technology. Rinsed was founded in 2019 by Austin Esecson, Sam Logan, and Nic Hippenmeyer. And 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.
What does Rinsed do? Rinsed helps car washes of all sizes delight their customers and grow their revenue with customer relationship management software built specifically for the car wash industry. And 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 offers actionable business insights. Currently, Rinsed helps manage over 4 million active car wash memberships for many of the highest volume and fastest growing car wash groups in the country. Plus Rinsed has seen significant demand for its platform, now serving over 1,300 car washes nationwide (an increase of over 400% in the past year).
What the funding round will be used for: This funding round will enable Rinsed to further invest in development with a focus on expanding its membership-focused CRM to include retail wash customers. Plus Rinsed will use funding to continue growing its engineering, data, and customer success teams.
KEY QUOTES:
“With all the excitement and growth in the membership model, the retail customer and their experience have been largely neglected. 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. By bringing the same segmentation, personalized messaging, and online sales capabilities to the retail customers, we can help our car wash partners grow even faster.”
- Austin Esecson, co-founder and CEO of Rinsed
“Rinsed has transformed the way we leverage data and given us the technology to increase new member signups and reduce churn. The Rinsed team works with us to understand our business and provides the tools our leaders need to grow the business effectively. We are very excited about this new funding, which will allow Rinsed to equip operators with even better day-to-day insights, more advanced technology, and tools that make a difference in our bottom line.”
- Blake Newman of Rocket Carwash
“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.”
- Carle Stenmark, General Partner at VMG. As part of this transaction, Carle will join the company’s Board
