FloorFound, an Austin, TX-based company that specializes in recommerce for oversized items, raised $10.5M in Series A funding.
Next Coast Ventures and LiveOak Venture Partners led the round with participation from Data Point Capital, Schematic Ventures, FlyBridge Capital Partners as well as Schematic Ventures. Tom Ball, Founder & Managing Partner, Next Coast Ventures, who joined the FloorFound Board of Directors with this round.
The company plans to use these funds to increase market presence in the U.S., as well to enter additional retail verticals like appliances and mattresses.
Chris Richter is the CEO of FloorFound. The company includes a localized reverse logistics system, inspection and processing capabilities, pricing intelligence, and merchandising. The company’s solution includes a strong fulfillment network with more than 40 warehouse hubs. This number is expected to triple by 2022 and four major 3PL partnerships.
The company, which was recently named to Fast Company’s 2022 list of World Changing Ideas, debuted its hosted platform and marketplace for oversized items in February 2021. The company has experienced a 5x increase of its client base, and its recommerce sales have more than doubled each quarter.
FloorFound currently serves innovative furniture brands including Inside Weather, Floyd, Burrow, Joybird, Mitchell Gold + Bob Williams, Living Spaces, Outer, Interior Define, Sabai, Neighbor, Modsy, Castlery, Million Dollar Baby, Kathy Kuo and more. FloorFound, in partnership with its clients has kept nearly 450,000 pounds worth of furniture in circulation and out the landfills.