Live Furnish, a Winston-Salem startup, has raised more than $6 million in its second round of funding, according to a company filing with the U.S. Securities and Exchange Commission.
Founded by Preet Singh, Live Furnish is a virtual reality content facilitator for the home furnishings industry. The company’s technology allows users to create virtual images without the need for product photography or computer-generated imagery (CGI).
The company moved from San Francisco to Winston-Salem almost two years ago to better serve its Triad client base. Live Furnish has seen tremendous growth in the time it has been in the Triad, with TBJ reporting in September that the company had grown 450% so far in 2021 and had grown its team to 10 employees.
During this recent fundraising round, the total amount Live Furnish raised was $6,000,009 from three investors.
The fundraising round, which closed at the beginning of the month, included equity and securities that can be acquired upon the exercise of option, warrant or other right.
Singh had told TBJ in September that the money it was raising would be invested into the company's expansion into other markets. The company already has customers on the West Coast, in the Northeast and in Europe.
“We're in a high-pace, fast-growth pattern,” Singh said. “The team is growing, the business is growing and the product technology is growing, so we’re scaling up now to build a large and powerful company that can really create a beautiful and very usable products.”
An SEC filing from September 2020 showed that Live Furnish had raised over $1.1 million from four investors.
Live Furnish has received funding from famed Silicon Valley angel investor Jason Calacanis and South Carolina angel fund VentureSouth. The company had also been awarded $25,000 in seed-stage investment from the Center for Creative Economy’s Velocity Creative Accelerator program.
