Online interior design and e-commerce startup Havenly announced today the close of a $12.5 million Series B funding. The round was led by local VC firm Foundry Group, which also led Havenly’s Series A in November 2015, with participation from new and existing investors like Industry Ventures, Chicago Ventures and Kickstart Fund.
We are dedicated to making a beautiful home accessible to everyone, regardless of budget and ability.”
The company plans to use the investment to grow its team by more than 50 percent over the next six months, as well as to further the development of its technology.
“We are dedicated to making a beautiful home accessible to everyone, regardless of budget and ability,” said CEO and co-founder Lee Mayer in a statement. “With this new funding we plan to continue down that path by expanding our team as well as doubling down on our data-driven approach to ensure we are providing the best design recommendations to each individual customer.”
Founded in 2014, Havenly has tapped into the demands of the digital age by marrying the expertise of professional interior designers with the convenience and scalability of an online platform. Consumers fill out a personal style questionnaire that helps match them with a designer, who then uses their style data to create a custom home design and recommend products from Havenly’s more than 400 furnishing partners.
Since its launch, the startup has experienced impressive growth. In the last two years, it has multiplied its customer base 14 times, with more than half of customers returning with additional design projects.
Design packages start as low as $79. However, this past year, the company launched a free consultation service that allows consumers to ask designers questions about how to elevate their existing spaces. It also recently launched a registry service.
To date, Havenly has raised almost $26 million in venture funding.
