Kaiyo, a full-service marketplace for furniture, has announced that it has raised $5M in funding led by Moderne Ventures, with full participation from Lerer Hippeau and Max Ventures. The capital injection will be used to continue the brand’s domestic growth beginning with Washington D.C., and to create impactful relationships within the Northeast’s real estate market.
“Since our founding, Kaiyo has sat at the intersection of convenience, sustainability, and design, revolutionizing the way consumers furnish their homes. Kaiyo has given shoppers the opportunity to spend less while accessing great furniture in a way that reduces their environmental impact,” said Alpay Koralturk, Kaiyo’s founder. “We are pleased to announce our partnership with Moderne Ventures as it will allow Kaiyo to continue our tremendous growth trajectory. Their experience working alongside the most innovative companies in real estate and home services will allow us to unlock new strategic partnerships and drive our mission to provide customers with a straightforward and sustainable experience when buying and selling well-made furniture.” Over the past two years, the brand has seen three times consistent growth every month year over year.
“Kaiyo is addressing a huge pain point for consumers by taking the hassle out of buying and selling used furniture in a secure way, enabling consumers to reduce waste and save money. At Moderne, we are opening up our B2B channels for Kaiyo in the multi-family, residential and commercial markets,” added Liza Benson, Partner at Moderne Ventures. “Our platform is built around connecting our investors to our companies, creating outsized returns. We are proud to be an investor in Kaiyo and to support their continued acceleration by extending their service to our partners as a 2021 Passport Company.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.