3D room remodeling startup Modsy raised $37M in a Series C led by TCV, bringing total funding up to $71M. Comcast (NASDAQ:CMCSA) Ventures, Norwest Venture Partners, and Advance Venture Partners also participated. The new funding will go towards 3D automation investment, marketplace expansions, and improving the design and concierge shopping services.
The online interior design service delivers a realistic 3D rendering of a customer’s room filled with shoppable products. The service has a $69 base price, but the $149 Premium package adds assistance from a human designer. Modsy has created over 2 million shoppable room renders since its 2015 debut. Since the Series B last December, the startup has expanded its customer base by 450% and grown headcount by 151%, from 47 to 118 employees. The company launched the Live Swap feature for quick room editing, the real-time design tool 3D Style Editor, and Minna Home, a line of custom sofas and chairs designed from customer data.
The Minna Home launch shows the unique advantage of Modsy’s design-meets-data model. Asked how technology and data help differentiate Modsy from its competitors, CEO Shanna Tellerman tells Seeking Alpha, “We have a unique data set at Modsy that takes into account full 3D proportions, layout, and scale, which only exists in the realm of 3D. We also have the human-led decision making around products that are paired together frequently and how these ultimately perform from a sales perspective.”
Tellerman says the company gathers “a tremendous amount of data on the trends across styles, product categories, and the performance of specific products.” The data has helped Modsy identify holes in its collections to either source new partners or develop new products, as was the case with Minna Home.
