Havenly Secures $7.5M in Funding Led by Foundry Group
Affordable interior design platform will expand platform, team to make redesigning any space easier than ever
11/4/2015 — NEW YORK, NY — Havenly (www.havenly.com), the online interior design service that matches users with designers to curate any room for the flat-rate of $199, today announced it has raised $7.5 million in funding led by the Foundry Group with participation from other private investors, including Chicago Ventures and 500 Startups. The funding will be used to expand the Havenly team and will be invested into the further development of the platform’s design concierge services.
Havenly will use the funding to expand their team by 20 percent – adding new members to the marketing, operations and technology departments respectively. These new hires will expand new and existing partnerships for the brand – including domino Design Services Powered by Havenly – and will focus on integrating Havenly design services into other product and content platforms. The funding will additionally be used to enhance the algorithms and technology back-end of the platform as well as the user interface. Customers will have advanced tools to engage with their renderings and concepts, as well as the opportunity to work with a financial representative that will make purchasing big ticket items more accessible.
“Since launch, we have focused on investing in technologies that make our design services go above and beyond what other companies are able to do. Through our unique survey and platform, we’ve been able to create a data-driven approach to design, that allows us to predict and recommend the best products for our customers. Seeing over 50% of our purchasing customers return for additional services, we know we’re on the right track and want to continue to provide them with access to top notch services. We’re excited to continue to grow and refine this technological back-end, and further our mission of making the entire design process more seamless and tailored for today’s consumer” said Lee Mayer, CEO and co-founder of Havenly.
The national interior design platform currently provides users with access to a free style quiz to determine their personal tastes and charges a flat-fee starting from $79 in order to provide design consulting services from one of Havenly’s top designers. At the end of the process, customers are given renderings of what the final product will look like and a narrowed scope of items to purchase to achieve the conceptualized look. Recently partnering with design publication juggernaut domino and offering innovative technology and competitive pricing, Havenly is proving to be a major player within the interior design space.
“Havenly’s platform is a unique solution for consumers who often find decorating a home to be time consuming and frustrating, as well as interior designers who may struggle to make a meaningful living doing smaller projects on their own. When you have two large ecosystems that are concurrently frustrated, we believe technology is able to galvanize the two to create an interesting business. We’re excited to be working with Lee and the team to continue to build on Havenly’s early success,” said Jason Mendelson, of Foundry Group. Jason will be joining Havenly’s board.
“The struggle to find the perfect home furnishings represents a compelling consumer pain point in an over $100 billion dollar space largely untouched by personalization. My experience as a board member and investor in Trunk Club has proven the power in connecting an expert human stylist directly to consumers in cultivating long-term, sustainable, and meaningful relationships that are more than merely transactional. ” said Stuart Larkins of Chicago Ventures.
About Havenly: Founded in 2014, Havenly is an online interior design service that allows anyone to create the room of their dreams by matching users with a dedicated designer who will decorate and shop the space for a flat-fee of $199. Using an an online style quiz to find the best interior design aesthetic and pieces, Havenly allows users and designers to virtually work together to create the perfect curated space based on any budget. For more information, visit www.havenly.com.