Chairish Pulls In $33M To Fuel Growth Of Online Home Furnishings Marketplace
Chairish has reeled in an additional $33 million in venture backing for its high-end home furnishings marketplace. Austin-based Tritium Partners led the funding round that includes previous investors Altos Ventures, Azure Capital, O’Reilly AlphaTech Ventures and “the founding team.”
“The online home furnishings category has grown dramatically over the past several years, and COVID has accelerated consumer adoption of online shopping,” the company said in a press release. “As they spend more time at home, Americans are finding their spaces more important than ever and are upgrading them to suit new functions, like home offices and outdoor entertaining.”
Despite the COVID-19 crisis, the release said, many Americans have cash on hand given that “a decrease in spending on travel, dining, events and fashion has also freed up discretionary dollars for home-related purchases.” And with lockdowns curbing brick-and-mortar retailers across the country, the conditions have been ripe for online marketplaces.
What this adds up to is that Chairish is bullish on the future.
“The home is playing a dramatically larger role in our lives, and Chairish’s growth metrics reflect this growing importance,” said CEO Gregg Brockway. “Over the past year, Chairish’s gross revenue has more than doubled,” he noted.
“The Tritium investment helps us take advantage of this unique market opportunity,” Brockway added. The company said it plans to “grow its team (and) expand its specialized services for sellers and buyers, particularly interior designers.”
“Chairish is led by an impressive executive team, composed of pioneers from the online travel industry and celebrated leaders from fashion and design,” said David Lack, managing partner at Tritium Partners. “Chairish has achieved significant growth and traction and we believe that the Chairish marketplace is poised to lead the continued growth in the premium home furnishings category.”
Founded in 2013, Chairish has land findings from a range of investors. Architectural Digest named Chairish the No. 1 “can’t live without decorating app” that “will change the way you shop for furniture online.”