Venture Capital News: Kontor Receives $4.6M Series A Funding
2016-05-12
NEW YORK, NY, Kontor, a website for commercial interior design, has raised $4.6 million in an extension to its Series A financing.
According to Wall Street Journal, the funding came from Founders Fund's FF Angel, Wellington Partners, Female Founders Fund and BBG Ventures. The company previously raised $5 million in Series A and seed financing from Venrock and Gilt Groupe founder Kevin Ryan, who is also founder and chairman of Kontor.
Kontor is a site for designers of offices and commercial space and their clients to find interior design ideas and products. The company has signed up more than 600 design firms and brands, said Mia Lewin, founder and CEO of Kontor.
Designers and their clients can use the site for free to find and collect new design ideas as they would on a site like Pinterest or Houzz, except Kontor is focused specifically on commercial office space, not homes. In addition, designers and design firms can use the site's workflow tools to interact with clients and discuss ideas for design. This collaboration has previously often been a slow and analog process, Lewin said.
Customers can use Kontor to mix and match different styles and brands for their own particular needs and participate in the design process with their designers, Lewin said. 'It's similar to home design,' Lewin said. '(Companies) want to portray their personal style and their way of working.'
There are more than 200 design brands on the site, including large brands such as Herman Miller. For designer brands, Kontor provides new customers for their products.
Kontor originally was the brainchild of Mr. Ryan, who previously founded companies including Gilt Groupe, MongoDB, Business Insider and Zola. Ryan came up with the idea after creating a number of companies and realizing that there was no website for searching, collecting and collaborating on design for office space. Mr. Ryan brought in Lewin, a former eBay executive, as the CEO, and the company was created in 2014 and launched in 2015.
The new extension to the Series A was designed to expand the company's investor base, for example, to Europe with Wellington Partners and with female investors through Female Founders Fund.
Currently Kontor doesn't enable e-commerce through the site. The company now provides free tools for brands to market their products to customers in various places on the site, and it plans in July to make this a paid service.
(c) by Massinvestor, Inc. For contact info, please check out our
about page.
>> Click here for in-depth research on 9,000+ startups and 5,000+ VC investors