Chairish Receives $4 Million Series A Investment
Former Hotwire, Levi Strauss and TripIt executives expand an online marketplace and mobile app that makes it fun and easy to buy and sell used furniture and home decor.
SAN FRANCISCO, August 11, 2014-- Chairish Inc., the online marketplace for design lovers to buy and sell pre-loved furniture, has received a $4 million Series A investment led by Azure Capital and O'Reilly Alpha Tech Ventures (OATV). Participating in the round is an impressive group of technology and private equity executives including David Bonderman (Founder TPG Capital), Karl Peterson (Co-founder Hotwire, Partner TPG), Spencer Rascoff (CEO Zillow, Co-founder Hotwire), Scott Hintz (Co-Founder TripIt), Bob Pasker (Strategic Advisor Azure Capital), Erik Blachford (ex-CEO Expedia), Kevin & Julia Hartz (Founders Eventbrite), Iggy Fanlo (CEO Lively, Shopping.com), Brian Flynn and Greg Baszucki (Co-founders FoundingPartners), and Charles Dietrich (CEO SlideRocket, MileIQ).
Chairish Co-founder and Chairman Gregg Brockway said, "Furniture is a typical household's third largest investment but it's ridiculously hard to sell. A vertical, curated marketplace built around a great mobile experience makes it dramatically simpler to buy and sell home decor. Ultimately, we aim to change how people think about decorating their home because a home with style doesn't have to cost a fortune." Brockway continued, "We are honored and fortunate to have this talented group of investors support us in our mission."
Managing Partner at Azure Capital, Mike Kwatinetz stated, "Chairish has created a burgeoning marketplace that works effectively for both buyers and sellers. Sellers uncover newfound value in their home furnishings while design lovers can shop for fine used and vintage furniture with unprecedented convenience."
Including this funding, Chairish has raised more than $7 million of capital since its 2013 founding. As of July 2014, Chairish serves 120 thousand monthly customers and adds over 1,000 items per week for sale to its curated marketplace.
"We're just getting started and are rapidly evolving our service based on the needs of our community," Eric Grosse, president of Chairish said. "We recently introduced a trade program that offers exclusive benefits to interior designers, as well as an enhanced mobile app that makes it simple to buy and sell on the go. With our new funding, we can continue to invest in creating an unparalleled selling and buying experience for design enthusiasts."
Chairish offers pre-owned items for sale on consignment and shares up to 80% of the proceeds with the consignor. The company is headquartered in San Francisco with representatives in New York, Los Angeles and Atlanta.
"I'm very impressed with the team at Chairish, which includes leaders from both technology and home decor. Gregg and Eric have deep experience in the online space and Anna Brockway brings marketing expertise plus an incomparable passion for design," Mark Jacobsen, managing director at OATV said. "This combination of tech and style has been the sweet spot in growing this brand," Jacobsen continued.
Started by fashion marketing executive, Anna Brockway, her entrepreneur husband Gregg Brockway and their friends, Chairish makes it fun and easy for design lovers to buy and sell pre-loved furnishings and décor to one another. The brand delivers inspiration, convenience, and exceptional value to both buyers and sellers who share an obsession with fabulous furnishings and décor. Chairish exclusively features curator-approved treasures from both individuals and brand name shops and designers including Design Within Reach, Herman Miller, Noguchi, Milo Baughman, Jonathan Adler, Crate & Barrel, Baker, Knoll, Surya, Kelly Wearstler, Eames, Room & Board, McGuire, B&B Italia, Kartell, Cassina, Christian Liaigre, Foscarini, Holly Hunt, Pottery Barn, Restoration Hardware, Arne Jacobsen, Dorothy Draper, Bertoia, Roche Bobois, Oly Studio, Pierre Paulin
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