SudShare Revenue & Funding (2022)

SudShare reported month-over-month growth of 10 to 30 percent every month for approximately two years as of May 2022, according to Mort Fertel. The company uses GMV as its primary revenue metric. Specific annual or monthly revenue figures were not disclosed in the interview.

As of May 2022, SudShare had more than 90,000 registered Sudsters, all based in the United States, across 400 markets. Of those, approximately 3,000 were active in April 2022. The company described itself as demand-constrained rather than supply-constrained, meaning customer acquisition is the primary growth lever.

SudShare charges customers one dollar per pound of laundry. There is no disclosed free tier. The number of paying customers on the demand side was not shared publicly; Mort Fertel declined to provide unique user or order volume figures for April 2022. The top Sudster earned $5,000 in a single month, implying she processed roughly 6,600 pounds of laundry, which at one dollar per pound represents approximately $6,600 in gross customer spend through the platform for that one worker.

SudShare charges customers one dollar per pound of laundry. Sudsters, the independent workers on the platform, receive 75 cents per pound, and SudShare retains 25 cents, representing a 25 percent take rate. Mort Fertel explained that the pricing was built by first targeting a Sudster hourly earnings range of $15 to $30 per hour and then backing into the customer price from there.

The top-earning Sudster processed approximately 6,600 pounds of laundry in a single month as of April 2022, generating roughly $5,000 for herself and approximately $1,650 for SudShare. A typical washer and dryer load weighs seven to eight pounds. The company operates as a demand-constrained marketplace rather than a supply-constrained one, meaning Sudster supply is not the limiting factor for growth.

Mort Fertel cited a target customer attrition rate of 5 percent as acceptable for a marketplace business. The company tracks attrition and uses GMV and new customer acquisition as its two primary KPIs. Profitability was not discussed in the interview. The company does some commercial laundry work for restaurants, spas, and auto repair shops, though Fertel described that segment as small and early-stage.

SudShare employed approximately 25 full-time team members as of May 2022. The majority of those 25 are in customer service roles. Excluding customer service, the non-customer-service headcount is approximately 8 people. The engineering team, including Nachshon Fertel, consists of 4 engineers.

Mort Fertel indicated the $10 million seed round would be used in part to grow both the marketing and engineering teams. Planned marketing hires include a head of performance marketing, a director of retention marketing, and a VP of marketing.