FloorFound Raises $10.5M in Series A Funding

FloorFoundAnonymous AustinTexas-based company that specializes in in$10.5M raised by recommerce for large items in Series A funding.

Theround was led Next Coast VenturesLiveOak Venture PartnersFlyBridge Participation Capital Partners, Schematic Ventures Data Point Capital. Tom Ball, Founder & Managing Partner, Next Coast VenturesThe, who joined the FloorFound BoardOf DirectorsWith this round.

TheCompany plans to use the funds for market expansion inThe U.S. and expand into other retail verticals like appliances, mattresses, and exercise equipment.

LedBy CEO Chris Richter, FloorFound includes a destination marketplace (FloorFound.store) Localized reverse logistics, processing & inspection capabilities, merchandising, pricing intelligence. ItsThe solution also includes a robust fulfillment network with more than 40 warehouse hubs. This network is expected to triple in2022, 4 major 3PL partnerships

Thecompany, which was recently renamed to Fast Company’s 2022 list of World Changing Ideas, launched its marketplace and hosted platform for large items in February 2021. SinceIt has seen an average of 5x growth in recommerce sales and more than doubled its quarterly sales. inIts client base.

FloorFoundCurrent service includes innovative furniture brands Inside Weather, Floyd, Burrow, Joybird, Mitchell Gold + Bob Williams, Living Spaces, Outer, Interior Define, Sabai, Neighbor, Modsy, Castlery, Million Dollar Baby, Kathy Kuo and more. TogetherWith its clients FloorFoundIt has saved almost 450,000 pounds of furniture inCirculation and out of landfills to-date

FinSMEs

20/05/2022

Leave a Comment