Leading company UnityLab raises $4.5 million in Series A Round

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Leading company UnityLab raises $4.5 million in Series A Round

While these startups may have the lion's share of the headlines, the true engines that drive the American economy are small businesses.

In the last four decades, the United States lost its manufacturing base due to millions of jobs being shipped to China and other developing countries with less wages, according to a 2019 SBA report.

It is for this reason that UnityLab, the company behind Hoffman-NewYorker and Unity Laundry Systems, is on a mission to bring manufacturing and enable innovation in small towns across the United States. UnityLab is behind some of the most respected and innovative brands that serve a diverse community of businesses and nonprofits.

Today, UnityLab raised $4.5 million in Series A funding to boost growth, scale operations, and create new jobs at its headquarters and manufacturing facility in Dushore, Pennsylvania, and other US cities. The round, which includes incentives from the Pennsylvania Rural Jobs and Investment Tax Credit Program, also includes $2 million from Advantage Capital, $2 million from the Bernstein Pennsylvania Fund and $500,000 from the Ben Franklin Fund.

This latest funding follows an investment led by Pennsylvania s Governor's Action Team GAT and other investment partners in April 2022 that generated more than 2.3 million for UnityLab's initial acquisition of the Dushore facility from Hoffman-NewYorker. The company plans to add as many as 150 jobs over the next several years while making a significant investment in hiring.

Jonathan Benjamin, CEO of UnityLab, said we are thrilled to have this financing and close our Series A round. The Series A round will propel the next phase of growth for UnityLab and its brands, and create greater economic opportunity for our workers and their families, and the deserving citizens of Sullivan County. Sam Schlichting, Associate and Pennsylvania Deal Lead at Advantage Capital said that this latest investment secured through the Pennsylvania Rural Jobs and Investment Tax Credit Program is a testament to how public-private partnerships can drive economic growth in rural Pennsylvania.