Online Furniture Startup Burrow Closes $4.3M Seed Round
Direct to Consumer Company Known for its Modular Sofa Raises Seed Round Led by Red & Blue Ventures
NEW YORK, Dec. 13, 2017 /PRNewswire/ -- Burrow, an online furniture startup known for its direct to consumer modular sofa, today announced the closing of $4.3 million in seed funding. The seed round was led by Red & Blue Ventures, with participation from Interplay Ventures and notable angel investors such as Twitch.tv Founder Justin Kan, Y-Combinator CEO Michael Seibel, and veteran retail executive Ken Pilot.
The funding will be used to scale the brand's marketing channels and further support expansion of the business.
Specializing in a modular, high end sofa, Burrow has grown more than 20 percent month over month since the company's official launch in April 2017, at a current run-rate of $7 million. In November 2017, just seven months after the company's launch, Burrow introduced its first expansion beyond the couch – a stylish, flat pack chaise sectional and ottoman. To meet the demands of its growing business, Burrow also transitioned its manufacturing from Mexico City to Mississippi, further streamlining its manufacturing and shipping operations, ensuring each sofa is American-made with locally sourced, high-quality materials.
"We started out with the goal of simplifying one of the biggest headaches that most consumers experience – purchasing and moving a sofa," said Stephen Kuhl, Co-Founder, Burrow. "Since then, we've delivered the most luxurious, yet affordable sofa on the market and also expanded our product line. We have big plans to continue re-shaping the way people think about their furniture, and ultimately their home, one living room at a time."
"Burrow is the most exciting consumer products company out of Wharton since Warby Parker," said Brett Topche, Managing Director at Red & Blue Ventures. "The furniture industry largely lacks innovation, and Burrow is turning the way consumers think of buying furniture on its head."
"Burrow has reinvented the sofa and fundamentally changed the purchase experience," said Ken Pilot, veteran retail executive with C-level operating experience at The Gap, J. Crew, Ralph Lauren, and ABC Home. "They have successfully addressed "the last mile" and the in-home customer experience by reducing the friction and anxiety associated with delivery. I am excited to be part of the journey."
Starting with a pre-order campaign at Y Combinator in summer 2016, Burrow has since expanded their foray into the furniture industry with continued growth and product development. With elegant design and unmatched simplicity, Burrow offers a creative solution for the modern consumer and fills a need to help furniture easily move and grow with you.
For more information about Burrow and its products, please visit www.burrow.com.
About Burrow
Burrow is fixing the broken furniture industry by delivering clever, comfortable, modular furniture directly to consumers that fits both their lives and their living rooms. By reverse engineering a high-end couch, Burrow designed a fully customizable sofa that is delivered within one week and takes minutes to set up. Without lifting a single tool, you'll settle into an ergonomically perfect sofa that looks beautiful and feels like home.
Burrow manufactures its sofas in the U.S., using locally sourced wood and fabrics that are never treated with harmful chemicals. Co-Founders Stephen Kuhl and Kabeer Chopra founded Burrow while pursuing their MBA at The Wharton School at the University of Pennsylvania. Burrow officially launched its first sofa in April 2017.
For more information, please visit https://www.burrow.com/.
Contact
Diffusion PR for Burrow
Megan Hartwick/Gina Balistreri
[email protected]
1 (646) 571-0120
SOURCE Burrow Inc
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