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Venture Capital News: Homee Raises $5M in Series A Funding

2016-07-06
LOS ANGELES, CA, Homee announces a $5 million Series A funding round led by Founders Fund.
Homee, the furniture and home design iOS app that helps those short on time create a stylish, affordable and personalized space, today announces a $5 million Series A funding round led by Founders Fund. This new round brings the total amount of funding to date to $7.2 million with previously undisclosed seed funding from Sean Rad, Ben Silverman, Stephen Oskoui, Bill Lee, David Wyler, FF Angel, Foundation Capital, and Scooter and Yael Braun, among other prominent angel investors. The company also announces the official launch of its iOS app out of beta to bring users a more evolved version of Homee for a completely streamlined design and home furnishing process from start to finish.

Homee is leveraging conversational commerce and artificial intelligence to remove the pain from the process of finding furniture that is right for your space. Instead of scouring through endless furniture options, Homee instantly connects you with a design expert who will design your room and select furniture that matches your personal style and budget.

The funding will be used to expand the Homee team to address the increasing demand for the service with the app's launch out of beta. Additionally, Sean Rad (Founder & CEO of Tinder) and Stephen Oskoui (Venture Partner at Founders Fund) are joining the Board of Directors.

'What everyone sees today is merely a step in the team's vision to dramatically simplify the process of buying furniture,' said Sean Rad, Founder & CEO of Tinder and Homee Founding Investor. 'I love their vision and I'm a big believer in Beatrice and the rest of the talented team.'

Homee was founded by Beatrice Fischel-Bock, Madeline Fraser, Lizzie Grover, Ben Broca, and Ethan Gromet after they saw an opportunity to tap into the home furnishing and design needs of on-the-go millennials and tech-savvy consumers with a mobile shopping app.

'The furniture and interior design industries are extremely fragmented and have failed to address new shopping patterns of today's on-the-go consumers. Homee is ushering in a new way to shop for furniture using conversational commerce and an on-demand design service,' explains Beatrice Fischel-Bock, co-founder & CEO of Homee. 'With this investment we are thrilled to continue growing exponentially and bring mobile to the forefront of our industry by tapping into a generation that demands instant gratification at their fingertips, which is exactly what Homee brings to its users.'

Using proprietary technology, Homee eliminates the need for users to do any of the heavy lifting when it comes to furnishing their home with its free design service.

Chat - Instantly chat with your designer who will curate a selection of high-quality furniture and decor for your space based on your budget and personal style.
Visualize - See what the recommended items will look like in your space before you buy using a personalized design board.
Shop - Purchase the items you like from the design board in one click. Items ship for free and are covered by Homee's price match guarantee.
About Homee:

Homee is a furniture and home design technology company that helps users furnish their home by curating a stylish, affordable and personalized space through its iOS shopping app. Homee brings ease and simplicity to the entire furnishing process and connects customers with Homee designers via its proprietary chatbot to receive personalized design recommendations for their space. All items from the design can be purchased a la carte or together as an entire room at the touch of a button. Homee was founded in 2015 by Beatrice Fischel-Bock, Madeline Fraser, Lizzie Grover, Ben Broca, and Ethan Gromet. Homee is based in West Hollywood, CA with 25 employees. Please visit us at http://homeeapp.com/ and download the app in the App store.
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