Laundrygo Revenue, Valuation, Funding & Investors

Laundrygo is valued at $254M as of November 2022, a 84.7x multiple on its last reported $3M revenue.

Last Laundrygo valuation

$254M

Series C · Nov 2022

Last Laundrygo funding round

$7M

Strategic investment · Oct 2025

Laundrygo revenue

$3M

Series C · Nov 2022

Key investors in Laundrygo

  • Altos Ventures
  • SBVA
  • AJU IB Investment Co
  • Samsung Venture Investment
  • DS Asset Management
  • Korea Investment Partners

Laundrygo Overview

About Laundrygo

Laundrygo is an on-demand laundry pickup and delivery platform operating in urban areas. Users schedule collections via app or website for washing, dry cleaning, and pressing services returned within 24 to 48 hours depending on location.


Founded

2019

HQ

South KoreaSeoul

Status

Privately held

Customer focus

B2C

Revenue model

Commission

Revenue

$3M (Nov 2022)

Valuation

$254M (Nov 2022)

Laundrygo Valuation

Laundrygo is currently valued at $254M, based on its Series C in November 2022.

The $36M round was led by H&Q Korea, with participation from AJU IB Investment Co, Hanwha, Badgers Investment, KB Securities, SBVA and 3 other investors.

Laundrygo's valuation has grown 2.3x from $110M at its Series C in September 2021 to $254M in November 2022, across 2 priced rounds.

Laundrygo valuation by funding round

Revenue multiple
Laundrygo valuation by funding round
DateStageValuationRevenue Multiple
Nov 2022Series C$254M84.7x
Sep 2021Series C$110M-

Laundrygo Revenue

Laundrygo's latest recorded revenue is $3M, as of its Series C in November 2022. At a $254M valuation, that implies a 84.7x revenue multiple.

Laundrygo revenue by funding round

Laundrygo revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Nov 2022$3M$254M84.7xSeries C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Laundrygo Funding History

Laundrygo has raised a total of $106M across 5 funding rounds.

Laundrygo's first fundraising round was a $6M Series A in June 2019. The most recent completed round was a $7M strategic investment round in October 2025.

Laundrygo funding rounds

Laundrygo funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Oct 2025Strategic investmentLG Electronics (lead)$7M-Lifegoeson Corp., operator of South Korea's leading mobile laundry service LaundryGo, received a 10 billion won ($6.98 million) strategic investment from LG Electronics in October 2025. Founded in 2019, LaundryGo operates a contactless mobile laundry application, 176 unmanned smart laundromats under the Laundry24 brand, and a dedicated hotel and corporate service division called LaundryGo Hotel & Business. The company reported revenue of 55.7 billion won in 2024 and has raised more than 100 billion won from investors to date. Under the partnership, LaundryGo facilities will deploy LG's latest all-in-one washer-dryer units, and the companies plan to jointly develop future technologies using customer insights and data collected from both organizations. Proceeds from the LG investment will fund international expansion, with Japan identified as the initial target market for the companies' joint mobile and unmanned laundry technology platform. The partnership also aims to build smart factory systems for large-scale laundry processing under an engineering, procurement, and construction (EPC) model, allowing LaundryGo to accelerate its entry into overseas markets while providing LG with operational feedback to refine its commercial appliance portfolio.
Nov 2022Series CH&Q Korea (lead); AJU IB Investment Co; Hanwha; Badgers Investment; KB Securities; SBVA; Altos Ventures; Pebbles Investment; MUSINSA$36M$254MLaundrygo is a South Korea-headquartered on-demand laundry startup that digitizes the laundry industry through a mobile app enabling users to request laundry pickup and drop-off within 24 hours. The company operates three main business lines: a B2C laundry pickup and delivery service via its app, a B2B laundry service for hotels (Laundrygo Business), and unattended laundromats (Laundry24). As of the Series C round, the company had more than 130,000 registered users and over 500 employees operating 100 laundromats in South Korea, with plans to expand to New York and Japan. In November 2022, Laundrygo closed a $37 million Series C funding round led by private equity firm H&Q Korea, with participation from returning investors SoftBank Ventures, Altos Ventures, and Aju IB, and new investors KB Securities, Hanwha Securities, Badgers Investment, Pebbles Investment, and strategic investor Musinsa. The round valued the company at $254 million post-money, representing significant growth from its $110 million valuation in September 2021. This brought total equity funding to approximately $73 million along with $14.5 million in debt financing. Laundrygo demonstrated strong revenue momentum leading up to the funding close. In October 2022, the company reached 4.4 billion won ($3.3 million) in monthly sales, representing more than 20 times the revenue from the prior year and indicating the company had tripled annual sales since 2021. The startup had built data collection capabilities around customer clothing types, materials, and laundry preferences intended to support future business diversification. The global online on-demand laundry market was projected to reach $128.5 billion by 2026, up from $18.7 billion in 2019, providing substantial growth opportunity in a sector where mom-and-pop stores and franchises still accounted for approximately 95% of the South Korean laundry market.
Sep 2021Series CSBVA; Korea Development Bank; DS Asset Management; Altos Ventures; Samsung Venture Investment$43M$110MLaundrygo is a South Korea-based on-demand laundry startup offering app-based pickup and delivery services (Laundrygo), B2B laundry for hotels (Laundrygo Business), self-service laundromats (Laundry24), clothes alteration (LaundryX), and an AI-powered laundry sorting system. In September 2021, the company completed a funding round with investors including Altos Ventures, DS Asset Management, Korea Development Bank, Samsung Venture Investment, and SBVA, achieving a post-money valuation of $110 million (150 billion KRW). This valuation was referenced in later reports during its November 2022 Series C round, which raised $37 million (49.5 billion KRW) led by H&Q Korea with participation from Altos Ventures, SoftBank Ventures Asia (SBVA), and others, lifting the post-money valuation to $254 million (350 billion KRW). The 2021 round contributed to Laundrygo's total equity and debt financing, with the Series C bringing cumulative equity to about $73 million and debt to $14.5 million. Laundrygo, founded in 2018 and based in Gunpo, South Korea, had over 130,000 registered users and more than 500 employees by late 2022. While specific 2021 revenue figures are not detailed, the company tripled its annual sales since 2021, reaching 4.4 billion KRW ($3.3 million) in sales in October 2022, more than 20 times the revenue from a year prior. Laundrygo's Series C funds were allocated to advancing smart factory technology and expanding the laundromat business amid rising labor costs. The company collects data on clothing brands, materials, and laundry types to enable business diversification. In the broader cleaning services sector, Laundrygo's $250 million+ valuation post-Series C marked a rare success, contrasting with prior sector challenges, alongside peers like Tumble, Oxwash, SudShare, and Hampr raising early-stage funds.
Jun 2020Series BAJU IB Investment Co; Hana Ventures; Korea Investment Partners; SBVA; DS Asset Management; Altos Ventures; Samsung Venture Investment; KT Investment$14M--
Jun 2019Series ASBVA (lead); Hanna Ventures; Altos Ventures$6M-Laundrygo raised 6.5 billion KRW ($5.4 million) in its Series A funding round in June 2019, led by Softbank Ventures (SBVA) with participation from Altos Ventures and Hana Ventures. The company operates a mobile laundry service with its own smart factory, offering high-quality services at reduced prices through subscription models up to 50% below market rates. This round came just one month after launch, targeting growth in South Korea's laundry market, valued at 4.5 trillion KRW and projected to exceed 7 trillion KRW in the next decade, with mobile orders expected to rise from under 0.5% to 15-20% of the market.

Who has invested in Laundrygo?

17 investors have backed Laundrygo across its funding rounds, including Altos Ventures, SBVA, AJU IB Investment Co, Samsung Venture Investment, DS Asset Management and Korea Investment Partners.

Lead investors include LG Electronics, H&Q Korea and SBVA.


Laundrygo Investors

Investors in Laundrygo by funding rounds participated
InvestorHQRoundsRoleFirst check
SBVASouth KoreaSeoul4LeadJun 2019
Altos VenturesUnited StatesSan Francisco, CA4ParticipantJun 2019
AJU IB Investment CoSouth KoreaSouth Korea2ParticipantJun 2020
DS Asset ManagementSouth KoreaSeoul2ParticipantJun 2020
Samsung Venture InvestmentSouth KoreaSeoul2ParticipantJun 2020
HanwhaSouth KoreaSeoul1ParticipantNov 2022
Badgers InvestmentSouth KoreaSeoul1ParticipantNov 2022
Hana VenturesSouth KoreaSeoul1ParticipantJun 2020
H&Q KoreaSouth KoreaSeoul1LeadNov 2022
KB SecuritiesSouth KoreaSouth Korea1ParticipantNov 2022
Korea Investment PartnersSouth KoreaSeoul1ParticipantJun 2020
Hanna VenturesUnited StatesLos Angeles, CA1ParticipantJun 2019
Korea Development BankSouth KoreaSeoul1ParticipantSep 2021

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Acquisitions by Laundrygo

Laundrygo has acquired 2 companies to date.

Last acquisition by Laundrygo was on April 5th 2022. Laundrygo acquired Penguin House for undisclosed valuation.


Latest Acquisitions by Laundrygo

Penguin House
A+Machinery
Description
Penguin House is a Seoul-based laundry service offering dry cleaning, consignment washing, and garment care through its network of stores in South Korea at penguinhouse.co.kr.
A+Machinery is a Miami-headquartered supplier of commercial laundry and dry-cleaning equipment in the United States. The company distributes washers, dryers, and ironers from brands like Speed Queen and Maytag to laundromats and hospitality businesses. Founded in 1995, it provides installation, maintenance contracts, and parts distribution across Florida and the Southeast, supporting over 500 independent operators with energy-efficient models compliant with ENERGY STAR standards.
HQ CountrySouth KoreaUnited States
HQ City
Seoul
New York City, NY
Deal Date5 Apr 20222 Jun 2021
Valuationundisclosed$3M
EV/Revenue
EV/EBITDA

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Laundrygo Competitors

Laundrygo competitors include listed companies like Kamakura Shinsho, Adventure, Propel Funeral Partners and IBJ Inc., and private ones like Sunny Dental and AstroTalk.

Public and private companies comparable to Laundrygo
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Kamakura ShinshoJapanJapanPublicly listed$54M$9M$164M2.4x
AdventureItalyItalyPublicly listed$19M$4M$266M-
Propel Funeral PartnersAustraliaAustraliaPublicly listed$160M$38M$280M2.5x
Sunny DentalChinaBeijingPrivate--$281M-
IBJ Inc.JapanJapanPublicly listed$130M$27M$224M1.4x
AstroTalkIndiaNoidaPrivate$30M-$297M9.9x

Laundrygo Public Comps

Laundrygo is still privately-owned, but its public comps include Adventure, Propel Funeral Partners, IBJ Inc., Angi, Skinkandy, Andrews Sykes Group, Everyday Network Co., Kamakura Shinsho, Weight Watchers and Multitude.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Adventure$19M$4M14.4x-79.1x-
Propel Funeral Partners$160M$38M2.5x2.5x10.7x10.1x
IBJ Inc.$130M$27M1.8x1.4x8.9x-
Angi$1B$114M0.4x0.4x3.7x3.6x
Skinkandy$51M$14M4.4x3.3x15.9x12.1x
Andrews Sykes Group$103M$44M2.8x-6.6x-
Everyday Network Co.$16M($6M)17.0x-(42.4x)-
Kamakura Shinsho$54M$9M2.6x2.4x15.5x13.6x

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Common questions about Laundrygo

When was Laundrygo founded?Laundrygo was founded in 2019.
Where is Laundrygo headquartered?Laundrygo is headquartered in Seoul, South Korea.
Is Laundrygo publicly listed?No, Laundrygo is a private, VC-backed company.
What is Laundrygo's valuation?Laundrygo was last valued at $254M in its Series C in November 2022.
How much funding has Laundrygo raised?Laundrygo has raised $106M across 5 funding rounds.
What was Laundrygo's last funding round?Laundrygo's last funding round was a $7M strategic investment round in October 2025, led by LG Electronics.
Who are Laundrygo's investors?Laundrygo's investors include SBVA, Altos Ventures, AJU IB Investment Co, DS Asset Management, Samsung Venture Investment, Hanwha, Badgers Investment, Hana Ventures, H&Q Korea, KB Securities and 7 others.
What is Laundrygo's revenue?Laundrygo's latest recorded revenue is $3M (November 2022).
What is Laundrygo's revenue multiple?Laundrygo's latest valuation implies a 84.7x revenue multiple ($254M valuation on $3M of revenue).
Which companies are comparable to Laundrygo?Companies comparable to Laundrygo include Kamakura Shinsho, Adventure, Propel Funeral Partners, Sunny Dental, IBJ Inc. and AstroTalk.
How many companies has Laundrygo acquired?Laundrygo has acquired 2 companies, including Penguin House and A+Machinery.
What was the largest acquisition by Laundrygo?The $3M acquisition of A+Machinery in June 2021 is the largest acquisition Laundrygo has made to date.

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