2017 has been quite an incredible year for our growing team at Modsy! Since we launched in September 2016, we’ve more than doubled in size, created breakthrough patent pending technology, launched amazing partnerships and retail integrations, worked with thousands of customers and continued to take a technology first approach to this rapidly changing industry.
That’s not all, today we’ve reached another huge milestone and we are thrilled to announce that we have raised a $23 million Series B!! This new round of funding was led by Advance Venture Partners (AVP), and included participation from NBCUniversal Cable Entertainment, Comcast Ventures and existing investors including Norwest Venture Partners, Birchmere Ventures, Ame Cloud Ventures, BBG Ventures, and GV.
From the very beginning, Modsy has been leading the charge to transform home design through the use of powerful 3D graphics and visualization technology. We’re obsessed with eliminating the frustration that comes with guessing how furniture and decor will look inside a home and we’re on a mission empower everyone to transform the spaces they inhabit into spaces they truly love.
We’ve been fortunate that the transformative consumer experience we’ve been providing to our customers has also struck a chord with incredible brand partners. This year alone we had the fantastic experience of partnering up with Bravo Media’s home makeover TV series, Cyrus vs. Cyrus to provide on-screen 3D visualizations of design concepts as part of our ongoing media partnership with NBCUniversal Cable Entertainment. We also launched initial retail pilots, integrating into the design services for notable retailers such as Crate and Barrel and West Elm.
With this new round of funding we’re ready to accelerate the impact we’re having on the market – from delivering new product features to deepening our integrations and partnerships with media and retail brands – this next phase for Modsy will be game changing.
And most of all, we want to thank our customers. You have made every step of the Modsy journey worthwhile and you are the reason we wake up every day excited to come to work! We wouldn’t be where we are today without you. You have inspired us with your beautiful spaces, helped us innovate with your ideas and feedback, and you have helped us realize that this is absolutely just the beginning of the Modsy story!!
With tremendous gratitude and thanks,
PS. Read on below to see what several of our investors and partners had to say about our Series B!
“Modsy offers the kind of attainable aspirational lifestyle that fits seamlessly with our content and audiences. Modsy is redefining home design and ecommerce with a fresh, innovative and turnkey approach which makes for an ideal transactional business that we can integrate into our programming in a way that delivers a real service to our viewers. We look forward to building on our partnership to help accelerate their growth.” – Dave Howe, President, Strategy and Commercial Growth, NBCUniversal Cable Entertainment
“Modsy is fundamentally changing the home design and shopping experience. Many consumers have a hard time buying for their homes, but Modsy’s 3D visualization and personalized styling give its customers the confidence to purchase and create a beautiful space. The market potential for a company that sits at the intersection of art, design, media and retail is huge, and AVP looks forward to supporting Modsy’s mission to revolutionize the industry.” – Courtney Robinson, Partner, Advanced Venture Partners.
“Modsy has a proven track record of success in reshaping the home design industry with 3D technology, and has already positively impacted how consumers interact with furniture and home retailers. Norwest Venture Partners has a long history with Modsy, having led their Series A in 2016, and with this new round we’re excited to see Shanna Tellerman and her team continue to innovate in the space, using technology to find new ways to solve the inherent problems with furniture shopping and decorating.” – Jeff Crowe, Managing Partner, Norwest Venture Partners