The funding will go toward developing AI, data, and exclusive profit-sharing blockchain technology, integrated with DecorMatters’ popular app.
updated: Dec 5, 2019
December 5, 2019 (Newswire.com) –
DecorMatters, an innovative start-up redefining the interior design and furniture shopping journey, has recently secured $10 million in funding to continue the development of their ground-breaking and highly popular iOS app. This funding round, led by ZenStone Venture Capital, will help the company expand its efforts into AI & AR tech within the consumer interior design sphere.
Founded in 2016, DecorMatters is an industry leader in providing AI & AR tech directly in the hands of interior design consumers. Their iOS app is enjoyed by over four million users to design and share interior spaces, working alongside professional designers to create rooms and shop furniture directly from their smartphones.
Via the app’s innovative technology, designers can help furniture shoppers make home renovations easier than ever. Simple AR integration allows users to visualize what their spaces will look like with furniture available from major retailers, including Pier One, Overstock, Wayfair, and more than 25 others. Over 100,000+ designers have contributed 750,000+ high-quality designs so far.
“With the new funding, DecorMatters is advancing our AI & data technology to deeper and wider ranges to build an even more enjoyable experience from idea discovery, interior designing, to furniture shopping for our users,” said Farris, co-founder and CEO at DecorMatters. “Moreover, we are about to develop the world’s first blockchain technology for the furniture industry to create an ad-hoc collaboration and profit-sharing mechanism among interior designers, shoppers, and furniture businesses at scale.”
Via the blockchain ledger, customers will be able to shop and design spaces alongside professional interior designers, who will receive a cut of the sale via a profit-sharing model. Furniture can be recommended to users via personalized AI tech built-in to the app. It’s a major development in the furniture industry, currently valued at over $600 billion.
DecorMatters focuses both on interior design and furniture shopping, allowing customers to connect while exploring the latest offerings from major retailers. By providing innovative, highly useful ways to incorporate both AI and AR into design projects, DecorMatters has become the leading player in the full customer experience of discovering, designing, and purchasing beautiful furniture perfect for any room. Their expansion into the blockchain via $10 million in funding will further increase their reach among design-conscious consumers, bringing a better interior design experience to everyone, from casual enthusiasts to professional designers.
“After experiencing the frustration of DIY interior design ourselves, we were eager to adopt cutting-edge technology to fix the broken system and make it easier, faster, and cheaper for all consumers. That’s why we founded DecorMatters,” continued Farris. “Now, with over 400% year-to-year growth, we’re looking forward to seeing what new trends and designs come next – and how we can help each user build their dream interiors with DecorMatters’ help.”
Corban De La Vega
Source: DecorMatters, Inc.