In a 2019 Startup Spotlight with GeekWire, Loopie Laundry founder and CEO John Vincent Lee described his new peer-to-peer clothes washing startup as “Uber for laundry.” That description seems to have caught the attention of one new investor.
Startup investor and entrepreneur Jason Calacanis and his angel investing club the Launch Syndicate are putting nearly $1 million into Loopie. Calacanis is well known for his $25,000 backing of Uber in the early days of the ride-hailing company. He also invested early in Robinhood, Calm, and Thumbtack.
Loopie was started in 2018 by Lee as a mobile app laundromat aimed at connecting people who don’t have the time or desire to deal with their own dirty laundry with people who can wash and dry at home and earn money doing it.
The startup has grown beyond Seattle to nine other U.S. cities including Portland; Denver; Chicago; Washington, D.C.; Austin; Atlanta; Dallas; and San Diego. Total sales recently passed $2 million.
“We are thrilled to have Jason and the Launch Syndicate’s support as we will be able to improve upon and scale our service offerings which will allow us to increase our ability to add value to and improve the lives of our customers and certified Loopie washers,” Lee said in a news release.
The Launch Syndicate is made up of more than 100 experienced angel investors and provides strategic mentorship and funding to early stage startups. Over the past decade the group has supported more than 300 startups.
Prior to the Launch Syndicate investment, Loopie had already raised more than $2 million. Other backers include Hyphen Capital, 37 Angels, Band of Angels, Elevate Capital, and the TiE angels. The company also received a $75,000 equity investment as winners of the Software/Tech Enabled category at the Pitch Oregon startup competition in February.
Loopie has grown to 40 employees and a large network of washers/drivers.