FloorFound, an Austin, TX-based pioneer and leader in recommerce for oversized items, announced that it secured $10.5 million in Series A financing.
The round was led by Next Coast Ventures and LiveOak Venture Partners, with participation from previous investors, FlyBridge Capital Partners, Schematic Ventures, and new investor Data Point Capital.
The funding will be used to expand the company's market presence in the U.S. and move into additional retail verticals such as appliances, mattresses, and exercise equipment.
Company: FloorFound, Inc.
Raised: $10.5M
Round: Series A
Funding Month: May 2022
Lead Investors: Next Coast Ventures and LiveOak Venture Partners
Additional Investors: FlyBridge Capital Partners, Schematic Ventures, and new investor Data Point Capital
Company Website: https://floorfound.com/
Software Category: end-to-end Recommerce
About the Company: Founded in 2020 by Chris Richter and Ryan Matthews, with the mission of empowering a circular future for all retail, FloorFound's end-to-end Recommerce platform and extensive warehouse network simplify the complexities of oversized returns and resale, from coordination of item pickup and inspection to marketing, sales, and revenue recovery. FloorFound is focused on protecting the planet by extending the lifecycle of oversized retail products. 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. Together with its clients, FloorFound has helped keep almost 450,000 pounds of furniture in circulation and out of landfills to date.
Source: https://www.prnewswire.com/news-releases/floorfound-secures-10-5-million-series-a-to-accelerate-growth--cement-leadership-position-in-oversized-recommerce-301550958.html