Clippings raises $15.4 million in Series B funding with Advance Venture Partners leading investment
LONDON, Sept. 12, 2018 /PRNewswire/ -- This week, London-based startup Clippings, the platform transforming the interior design industry, announces their Series B round of funding, raising $15.4 million. Advance Venture Partners (AVP), which has previously backed global powerhouses and industry innovators including Farfetch, Moda Operandi and Rent the Runway, lead the round. Existing backer C4 Ventures furthered their investment. Founded in 2014 by architecture-trained entrepreneurs Adel Zakout and Tom Mallory, Clippings has seen more than 400% growth every year since its founding. This latest funding will be used to roll out in new geographies including the United States, accelerate technology development and launch major new categories.
Currently, the furniture industry is worth €96 billion in Europe, and around $120 billion in the US, but only 6% of this spend is online. Using their proprietary software platform, Clippings is revolutionising the design industry from within by delivering a new way to create, source and manage interior design projects. Clippings is working to streamline the industry and fundamentally transform the way interior designers work, allowing them more time to do what they do best - make amazing places.
Clippings provides unique solutions for interior design projects, including:
- Aggregating data on over 7 million products from over a thousand brands to simplify discovery
- Interactive mood boards that replace Pinterest to identify and buy any product in the world
- Efficient collaboration and communication with team members at every stage of the project
- Consolidating multiple quote requests, orders, invoices and timelines into one convenient place
- One point of contact to answer questions, find solutions and manage delivery and installation
A community of nearly 50,000 people including teams designing for WeWork, Citroën and British Land, are already using Clippings to reduce cost, improve efficiency and deliver outstanding projects.
"We are thrilled about this new chapter for Clippings, and excited to deliver transformative technology to the design industry through our platform," said Adel Zakout, co-founder and CEO of Clippings.
In addition to completing their Series B funding round, Clippings welcomes Courtney Robinson, Partner at AVP, to their Board of Directors. With her extensive background in working with emerging technology companies, including overseeing AVP's investments in Modsy and Curology, she brings expertise in global growth for design-led companies.
"We believe Adel and Tom have the unique appreciation of brand and technology, as well as an insider's understanding of the design industry, that has enabled Clippings to build the platform to bring the design industry online," said Courtney Robinson of AVP.
"Since we first invested in Clippings a year ago, we have witnessed the team challenging the status quo in the interior design industry and delivering on their vision to become the go-to destination for interior designers," said Pascal Cagni, founder & CEO at C4 Ventures.
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