Modsy scores $37M to virtually redesign your homeMay 22, 2019
Modsy has raised some new cash as the computer vision startup looks to get physical and build more of the furniture it recommends. The startup announced they have closed $37 million in Series C funding led by TCV. They’ve now raised north of $70 million to date.
The service combines computer vision tech with human designer know-how to let users design the trendy home of their dreams. The process begins with a user snapping pics of their room (or multiple rooms), which Modsy then stitches into a complete 3D model of the room.
Prices range from $69 to $349 depending on what level of finesse you’re looking for.
From there Modsy designers drop in furniture from their partners, like Crate&Barrel, Pottery Barn, West Elm and others, if you pay for their $149 single-room premium package, you can chat with the designers and swap out pieces or try completely different styles. All-in-all the app gives you a lot of options for the price, although the startup’s main method of monetization isn’t these one-time packages, it’s earning cash when you buy the furniture they suggest.
Earlier this year the company branched out into creating their own furniture line of sofas and chairs, which they are injecting into their room designs and recommendations. This could allow the company to transform into more of a smart furniture company as opposed to an AR/computer vision startup.
“I founded Modsy on the premise that in the future we would all be shopping from a personalized catalog-like experience within a virtual version of our real homes,” CEO Shanna Tellerman said in a statement. “This new round of funding will bring us even closer to this reality.”