CasaOne Raises $16 Million Series B Financing Round Led by Accel for Expansion
SAN FRANCISCO--(BUSINESS WIRE)--Nov 21, 2019--
CasaOne, the San Francisco-headquartered furniture rental company, announced it has completed a $16 million Series B round of financing. Accel led the investment round with participation from return investors JLL Spark, Freestyle Capital, NextWorld Capital, and Array Ventures. New investors include Quiet Capital, HNI and WeWork and a few prominent angel investors including Lydia Jett from Softbank’s Vision Fund. This round of financing will help CasaOne expand to new geographies, further invest in hiring technology and engineering talent and expand into adjacent product categories.
CasaOne launched its category-defining furniture rental solution in 2017 that eliminated big points of friction that comes with sourcing, designing, set-up and maintenance of furniture, furnishings and equipment be it at a residence or an office. With increased demand from businesses, BureauOne was launched in May 2019 to cater to fast-growing companies, mid-market firms, and enterprises to convert their FF&E (Furniture, Fixtures and Equipment) into a utility.
This Series B comes on the back of a great year for CasaOne and BureauOne that saw a rapidly growing portfolio of consumers and B2B clients adopting its home and office furniture rental service, a larger geographic footprint and increased momentum in onboarding key partnerships. Today, CasaOne operates out of six markets - Chicago, New York, Los Angeles, Seattle, the San Francisco Bay Area, and Washington, D.C.
“At CasaOne and BureauOne, we are building technology for real-time inventory, supply chain, and large format logistics for the old school furniture and logistics industries. This helps us deliver best-in-class SLAs to our customer. Our goal will always be to place our customers front and centre by offering a wider selection of furniture, higher flexibility, and better pricing coupled with a turnkey solution.” said Shashank, the founder and CEO of CasaOne. “The backing and expertise of our financial and strategic investors will help us execute our vision even more rapidly and broadly – in a category that previously hasn’t seen much innovation. With the new raise, we plan to further double down on engineering and market expansion. We plan to launch in London as our first international market in Q1 of 2020.”
CasaOne and its B2B offering BureauOne provide a full-service rental solution while also minimizing and eliminating friction when it comes to furnishing spaces in short periods of time. Their key offerings include
- A wide selection of furniture, furnishings, décor and equipment for the home and office
- 3D visualizations and space planning expertise
- White-glove assembly, delivery and onsite installation
- Flexible monthly plans and easy upgrades along with rent-to-own options
- Furniture protection and maintenance
Subrata Mitra, Partner at Accel added: “ CasaOne and BureauOne’s turn-key solution enables businesses to be nimble about their furniture/FF&E requirements in their office spaces. As CasaOne has grown rapidly, the company has been able to respond quickly to the growing need for on-demand furniture in commercial real estate. With white-glove service and the fastest turnaround in the market, BureauOne is building a customer-focused business that is exemplified by its best-in-class service. Shashank & the rest of the team continue to build a great company in this space, and we’re excited to lead another round of investment at CasaOne and BureauOne!”
“CasaOne is an early leader in the furniture as a utility category, and with the introduction of BureauOne earlier this year, it brings new flexibility, speed and convenience to office landlords and tenants in commercial real estate. Businesses can furnish office spaces in a matter of days instead of waiting weeks or months,” said Mihir Shah, Co-CEO, JLL Technologies. “We’re excited to continue our partnership as CasaOne and BureauOne scale and expand to new markets.”
CasaOne is a home furniture rental company that helps property managers, realtors, stagers and residents experience and access furniture, furnishings, decor, and equipment on demand. Our full-service offering includes a wide selection of products, affordable monthly rental plans, 3D visualizations, rent-to-own options and, white-glove delivery in as early as 2-3 business days.
BureauOne converts furniture into a utility for businesses.
BureauOne is a furniture rental company that helps businesses experience and access furniture, fixtures, and equipment without going through the myriad challenges that are associated with buying office furniture. BureauOne offers a full-service product including white-glove storage, delivery, and installation on-site.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191121005693/en/
CONTACT: Renny George | CasaOne
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY FINANCE OFFICE PRODUCTS SPECIALTY PROFESSIONAL SERVICES INTERIOR DESIGN HOME GOODS RETAIL RESIDENTIAL BUILDING & REAL ESTATE
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PUB: 11/21/2019 12:00 PM/DISC: 11/21/2019 12:00 PM