The online consignment marketplace Chairish Inc. has raised $4 million in a series of investments, bringing its total capital raised to $7 million since it launched in 2013.
“We’re just getting started and are rapidly evolving our service based on the needs of our community,” said Eric Grosse, President of Chairish. “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.”
The latest round was led by Azure Capital and O’Reilly Alpha Tech Ventures (OATV). An impressive roster of technology and private equity executives also participated 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 and 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 has created a burgeoning marketplace that works effectively for both buyers and sellers,” said Managing Partner at Azure Capital, Mike Kwatinetz. “Sellers uncover newfound value in their home furnishings while design lovers can shop for fine used and vintage furniture with unprecedented convenience.”
As of July 2014, Chairish serves 120,000 monthly customers and adds over 1,000 items per week for sale to its curated marketplace.
The website 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.
“Furniture is a typical household’s third largest investment but it’s ridiculously hard to sell,” said Chairish Co-founder and Chairman Gregg Brockway. “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. We are honored and fortunate to have this talented group of investors support us in our mission.”