HomeSav.com Secures $1.2m in Seed Financing Round

HomeSav.com secures $1.2m in financing; membership grows by over 1400% in the first year to over 100,000. Financing will be used to further enhance member experience and to present members with inspired home products, starting with the launch of the 'Inspired Picks' program.

Sep 27, 2011, 06:00 ET from HomeSav

TORONTO, Sept. 27, 2011 /PRNewswire/ -- Today, HomeSav.com, the fast growing luxury home decor flash sale site for inspired living has raised $1.2 million of funding from Canada's most notable retail angel investors and entrepreneurs including the Koffler family, founders of Shopper's Drug Mart, and the Metrick family, founders and owners of ELTE, Canada's largest high end home furniture retailer.

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HomeSav.com was founded in 2010 by Alexander Norman, Aliza Pulver and Allan Fisch who found themselves searching for a better way to shop for 'inspirational' designer home products and home decor gifts.  Aliza Pulver, co-founder and chief buying officer says, "HomeSav.com is dedicated to Inspired Living. Our goal is to inspire people to create the home they've always wanted to have. We want to help people live better lives by surrounding them with products that are beautiful and empowering.  We sell highly stylized and functional products like Joseph Joseph Kitchenware and chic ethanol fireplaces from Modern Elements, and we offer these products to you at up to 80% off retail. Make furnishing your home easy and fun and we deliver products to hundreds of people all over the US and Canada each day."

According to founder and Co-CEO Alex Norman, "Consumers are eager to buy home products, but are overwhelmed by the vast selection of products, and the lack of guidance available to them. They are looking for high end products at economical prices, but bargain shopping involves extensive searching that people simply don't have time for.  HomeSav.com provides a solution to that."

HomeSav.com launches new sale events each morning introducing new brands and their products. Products are limited in quantity and are available for a limited time. Every product is accompanied by a detailed description and high resolution images, taking the guess work out of shopping for the home, and adding the fun back into your decor shopping spree.  Membership is free and shoppers can register at www.HomeSav.com by simply entering their email address and making a new password.  

Since launching on November 1, 2010, HomeSav.com has appealed to savvy shoppers and decor enthusiasts, between the ages of 30-55, who love to cook, decorate and shop online for all their seasonal and home products and necessities.  More than 100,000 people in Canada and the United States have signed up to date and its members place more than 100 orders per day. More than 30% of HomeSav.com's members have signed up via social media tools such as Facebook and Twitter links.

HomeSav.com's recent funding will be used to expand HomeSav.com's team and continue to ensure that HomeSav.com provides inspiration to its members. In conjunction with the financing announcement, HomeSav.com is launching the 'Inspired Picks' program where designers, chefs, and connoisseurs of all types choose products that inspire them and HomeSav.com members get the opportunity to see and buy these inspirational products on the site. More than 50 experts and designers are scheduled to appear in coming months.

HomeSav.com has also been a successful platform for in helping home decor and furniture manufacturers and designers reach a large audience. "Prior to HomeSav.com it was very difficult for our partners to break through the clutter and reach out to  potential consumers in a focused way. We enable our partners to reach an entire new audience," says Aliza.

David Sharafi, CEO of Modern Elements, a Montreal based fireplace manufacture, says that: "As most manufacturers lack a way to reach a mass audience online, HomeSav.com is a great tool for us to reach savvy consumers that we could not previously reach and to introduce our brand to them. HomeSav quickly generates new lifelong customers and a large volume of sales. HomeSav is the perfect partner to build your brand with."

About HomeSav.com

HomeSav.com is Inspired Living. HomeSav.com is a leading flash designer sales site in the home decor and furniture market. HomeSav.com launches new sale events each morning introducing new brands and their products. Products are limited in quantity and are available for a limited time. Every product is accompanied by a detailed description and high resolution images, taking the guess work out furnishing and buying product for your home, and adding the fun back into your decor shopping spree. HomeSav products include home decor, furniture, art, kitchen, outdoors, gadgets, seasonal, and family related luxury home accessories.

SOURCE HomeSav



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