Bengaluru-based online furniture and home décor company, Urban Ladder has raised $50 million in a new round of funding. Sequoia Capital led the round along with TR Capital and existing investors Steadview Capital, SAIF Partners and Kalaari Capital. The fresh funds will be used for geographical expansion, investment in technology and hiring.
Cofounded in July 2012 by Ashish Goel and Rajiv Srivatsa, the company claims to be on a massive growth path with its distinctive designs and exceptional customer service. Ashish said,
Over the last 3 years, we have stayed sharply focused on our design thinking, product quality and customer experience. While these will continue to be important themes, geographical expansion will also be a key focus area this year. We will be present in 30 cities by the end of 2015.
The online furniture company has already raised $27 million from Kalaari Capital, SAIF Partners and Steadview Capital in the last 3 years. Ratan Tata, Chairman Emeritus, Tata Group made a personal investment in the company in November 2014.
Rajiv accepted that the technology will be a key driver in Urban Ladder’s growth. The company is working on several tech innovations to solve complex furniture e-commerce problems. He said,
We are investing heavily in technology to introduce world class tech innovations that will massively simplify furniture shopping.
With over 4000 products and 35 categories, at present, Urban Ladder delivers to 12 cities in India which includes Pune, Cochin Ahmedabad, Chandigarh, Surat, and Mangalore apart from the six metros.