Interior design site Laurel & Wolf wins additional funding
- Interior design site Laurel & Wolf will garner $20 to $30 million in Series B financing in a round led by Benchmark.
- Benchmark’s offer beat out several other firms, and places the site’s valuation at approximately $100 million.
- Launched last year, Laurel & Wolf asks multiple designers to virtually decorate a room and provides links to items used in the winning treatment.
An innovative startup is set to add $20 to $30 million to its funding under a new round of investment, helping expand its personalized design services. Charging customers $299 to $499 per room, Laurel & Wolf asks interior designers to provide recommendations for the space, incorporating information based upon customer’s style preferences and budget. The designers then deliver digital models of the room, the customer picks his or her favorite and gets a “styleboard” of the items in it to buy.
Laurel & Wolf competes with startups such as Decorist, Homepolish, Tastemaker and MACK, which offer varying levels of algorithm-based personalization, product selection, and assistance on decorating projects. Benchmark’s Matt Choler, also a board member at design site 1stdibs, led a competitive funding round that brings Laurel & Wolf's valuation to more than $100 million.