Havenly Announces Additional $5.8M Series A2 Funding, Reveals Explosive Growth
With $13.3M raised to date, Havenly will expand its team by 25% to change the future of interior design
3/29/16 – Denver – Havenly (www.havenly.com), the national online interior design platform that makes redecorating affordable and simple, today announced it has raised an additional $5.8 Million Series A2 round of funding bringing its total funding to date to $13.3 Million. Led by Binary Capital and participated in by existing investors Foundry Group and Chicago Ventures, the new funding follows the company’s $7.5 Million Series A announcement in November 2015.
With a 900% year-over-year increase in revenue and a 100% growth in the number of employees within the last quarter, the round will be used to expand staff by 25% by summer of 2016, and further develop the algorithms and technological front and back-ends of the design platform. Specific upgrades will include a simplified process for communicating with designers, easier on-boarding, and improved design renderings. Building out the technology, marketing, operations and design departments respectively, the company is also investing heavily in securing even more of the top product and design professionals to make Havenly the go to resource for interior design.
“We see more than a 50 percent customer return rate following a user’s first transaction on Havenly, and it’s really a testament to how we’re providing a service that people not only need but genuinely enjoy. This new round of funding will allow us to further tailor our platform to our user’s needs and allow us to continue to attract the best design talent in the country. We couldn’t be more excited about our traction to date, and to continue to make the design process as easy and efficient as possible,” said Lee Mayer, CEO & 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 how the final design will look in the room and a narrowed scope of items to purchase to achieve the conceptualized look.
For more information on Havenly, visit www.havenly.com.
To view the media kit, click here.
About Havenly: Launched 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 starting at $79. 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 for any budget. For more information, visit www.havenly.com.