Branch, an office furniture business specializing in designs for remote and hybrid employees, has secured $10 million in a Series A funding round to produce new items for both home and corporate offices.
“Many of us spend more time interacting with office furniture than any other product except our mattress — and in our case, you’re awake. But most premium office furniture is expensive, especially for businesses purchasing through traditional dealers, and over the past two years of remote work, consumers have realized that ‘fast furniture’ doesn’t cut it. By combining the craftsmanship, ergonomics and service of contract furniture with the ease and value of fast furniture, Branch supports office workers whether they’re in the home office, on-premise with their team, or working hybrid across both environments.”Greg Hayes, co-founder and CEO, Branch
According to a business blog post, Springdale Ventures led the round, with participation from Maywic Select Investments, Group RMC, Agya Ventures, Ricky Joshi of Saatva Mattress, Ryan Simonetti of Convene, and Jiake Liu of Outer. The new financing takes the total amount raised by the business to $14 million.
According to the press statement, the firm doubled its revenue last year, gained more than 50,000 customers, and maintained an industry-leading net promoter score (NPS).
The fresh funds will be used to speed up the development of new office items, improve the supply chain, provide digital experiences that complement physical products, and expand the company’s workforce.
The company, which is based in New York and was founded by Hayes, Sib Mahapatra, and Verity Sylvester in 2019, expects to generate “high eight figures of revenue” and service more than 200,000 consumers this year.
Since the beginning of the pandemic, the firm’s top-rated ergonomic chair has sold out more than ten times, according to the company, and has won accolades and multiple praises from reviewers and consumers.
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