Dive Brief:
- Home design platform Modsy announced Tuesday it has attracted $8 million in Series A funding from Northwest Partners and investors including Restoration Hardware.
- The platform works by creating 3D representations of spaces its users want to redecorate from their photos and presenting styled, shoppable alternatives.
- Modsy is in beta testing now and taking reservations from new users at its website.
Dive Insight:
Home design app startup Modsy announced the closing of $8 million in Series A venture funding in a round led by Norwest Venture Partners, giving it a total of $11.75 million in capital. The round drew participation from investors such as Restoration Hardware, Gotham Gal Ventures, and Dolby Ventures.
The platform works by taking an inventory of its users’ design preferences and budgets, then allowing them to upload pictures of the space or spaces they want to remodel from their mobile devices. Modsy transforms the pictures into photorealistic 3D models and returns mockups of the spaces styled in a variety of ways by affiliated designers.
Not only does the platform present design options specific to the user’s space, it also offers click-to-buy capabilities for many items in the redesigned spaces.
The new funding will help Modsy scale up for general release, Shanna Tellerman, Modsy’s CEO and founder said. “This financing will help us accelerate the company’s trajectory in several key ways. We will continue to recruit the most talented graphic engineers, 3D artists and designers, ramp up our marketing efforts, and continue to scale as we head towards our public launch.”