In the last year, Dering Hall has nearly doubled the number of interior designers, architects and product designers who pay each month to showcase their work on its platform. With a total number of participants hovering around 1100, many of whom are outside the U.S., Dering Hall founder Peter Sallick felt the business was in a great position to expand.
The original investor group—Hearst Magazines, Lerer Hippeau Ventures, SoftBank Capital—all agreed to reinvest to the tune of $2.5 million in Sallick's vision to grow the team and invest in technology. The capital will also be used to grow its sales efforts internationally.
"It's exciting to see how international products are responding in the US, which, especially at the high end, is the most vibrant market in the world," said Sallick.
Peter Sallick, Dering Hall founder and Jennifer Gilbert, Doodle Home founder
As part of the deal, Dering Hall acquired the assets of Detroit-based home site Doodle Home and invited its founder, Jennifer Gilbert, to join the board. Doodle Home's brands will be invited to join Dering Hall, though none of its staff or operations will be migrated.
"The transformation of all industries, and especially the design world, is sure to accelerate, and we expect Dering Hall to play a key role in broadening the demand for high end home furnishings," said David Carey, President of Hearst Magazines.