How Does Laundry Software Make $60M a Year? | Alex Jekowsky CEO TryCents

At 23, Alex Jekowsky started building Cents, an all-in-one software, hardware, and payments platform for laundromats, dry cleaners, and shared laundry rooms.

In 2025, Cents generated $60 million in revenue, up 67%, with just 80 employees and EBITDA margins above 20%. The company now has 99% customer retention, powers laundry rooms in nearly 7,000 apartment buildings, and recently raised a $140 million Series C at an approximately $800 million valuation.

In this episode, Alex reveals:

• How Cents grew from $700,000 to $60 million in four years

• Why its first customer was a 73-location laundry operator

• How Cents combines software, payments, and custom-built hardware

• Why the company generates roughly $750,000 in revenue per employee

• How Cents maintains 99% customer retention

• Why Alex acquired a hardware company instead of continuing to build everything internally

• How the $140 million financing included a $30 million employee tender

• Why founders should avoid raising at valuations that eliminate future options

• How Alex plans to turn an overlooked industry into a multibillion-dollar company