EAST GREENWICH – The Slater Technology Fund has invested $250,000 in HappyNest Inc., a laundry-as-service company headquartered in East Greenwich, the fund announced this week.
The company provides licensed software to laundromats nationwide and a branded software-based pick-up laundry service. The company has two segments, Springboard, which develops and sells licensed software, and HappyNest, which is a consumer-facing company that manages a laundromat’s operations.
The company was founded by John MacKrell. Slater said that MacKrell left the investment banking industry to get into the laundromat business. The company developed its pickup-laundry service as a means to increase traffic to its laundromats, increasing the efficiency of a laundromat.
“It’s easy to build empathy with both of our customer types since we’ve walked in their shoes, and are surrounded by them on a daily basis,” said MacKrell.
HappyNest currently has locations in Maryland and New York but is in the process of expanding nationally, according to Slater.
Springboard was said to have more than 70 customers across the country using its cloud-based tools. Its products and services include a delivery management software, point of sale system, a mobile app, digital marketing solutions, payroll and data analytics, among other offerings. On its website, the company offers potential customers the choice of becoming part of the HappyNest brand or to use the Springboard software as an independent company on a subscription model with royalty payments.
“Everyday functions like laundry are ripe for digital transformation,” said Thorne Sparkman, managing director of the Slater Technology Fund, in a statement. “We’ve already seen digital technologies revolutionize grocery, transportation, music and many other aspects of American life, so laundry is the logical next step. What gives me confidence is working with a founder with such deep domain expertise. With that kind of opportunity and team, whatever resources and expertise Slater can mobilize is magnified. We’re excited to get started.”
Want to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.