Interior Define, a Chicago startup that's making it easier to buy furniture online, has raised $15 million in new funding.
The Series B round was led by Pritzker Group Venture Capital and Fifth Wall, a real estate focused VC firm.
Founded in 2013, Interior Define has grown quickly in recent years. CEO and founder Rob Royer said the company has tripled its revenue in each of the last three years, and it doubled its employee count last year more than 50 employees.
Interior Define said it will use the new funding to grow its brick-and-mortar presence and add new technology to its platform. The startup opened its first shop in Chicago in 2015, and added three new locations in New York, Los Angeles and Austin in 2017. Interior Define plans to add at least two more physical spaces in 2018.
Online sales remain the bulk of Interior Define's business, but Royer said having brick-and-mortar locations has been an important piece for helping customers interact with the brand.
"When customers learn about us online and ultimately come into the guide shop, it's a really powerful combination because they get a great sense of the brand and then interact with someone in person," he said.
Interior Define's website allows customers to browse and purchase made-to-order furniture by customizing everything from size, cushion type, leg style, and fabric and leather upholstery. The company offers design assistants to help customers both online and offline, and its supply chain eliminates middlemen and unnecessary markups, allowing people to purchase high-end pieces at lower prices.
To help customers who may be apprehensive about buying a sofa online, Interior Define has launched a new augmented reality app that helps customers visualize how a chair or sofa would fit in their home with to-scale product renderings. It also offers a Comfort Guide, which is a visual tool that helps people better understand the “sit” and construction of the startup's cushions.
Interior Define has now raised more than $27 million to date. Investors in the latest round also include Peterson Ventures, Listen Ventures, and Breakout Capital.
