Furniture rental company CasaOne has raised a $16 million Series B round led by Accel, it said on Friday. Existing investors JLL Spark, Freestyle Capital, NextWorld Capital and Array Ventures also participated in the round. The new investors include Quiet Capital, HNI and WeWork, besides a few angels such as Lydia Jett from SoftBank’s Vision Fund.
The San Francisco-based company will use the fresh capital to expand its footprint, hire technology and engineering talent, besides adding new product categories to its portfolio, CasaOne said. While CasaOne launched its home furniture rental platform in 2017, this May it started BureauOne, which helps businesses, including mid-market firms and enterprises, with their furniture, fixtures, and equipment requirements.
It operates out of 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," said Shashank P.S., founder and chief executive, CasaOne, in a statement. “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 BureauOne’s turn-key solution enables businesses to be nimble about their furniture, fixtures, and equipment requirements in their office spaces," said Subrata Mitra, partner, Accel, in a statement.