Livspace, an online home decor platform offering full stack, end-to-end home design and decor solutions, has acquired DezignUp, an online community and marketplace for both designers and consumers. Financials regarding the deal have been kept under wraps.
Livspace offers a complete online platform, for designers and consumers to design their own home decor, and then shop that customised design. The platform also offers expert opinions from designers to help you find the right match for your home. The start-up current focus is on the Indian and South Asian market.
The startup recently gulped in $4.6 Million worth Series A round, led by Helion Ventures and Bessemer Venture Partners. Singapore based Jungle Ventures also invested in the round.
DezignUp on the other hand, is a community comprising of numerous designers and consumers, with the former lot helping out the latter ones in doing better home decor.
Talking about the recent acquisition, Anuj Srivastava, Co Founder of Livspace said,
It is our constant endeavour to use disruptive technology, data science, and design innovation to bring the best home design experience for customers. In DezignUp, we saw a similar blend of scale, intellectual pedigree, and energy.
Anuj further claims, that Livspace is already hitting a “multi-million dollar run rate” in its business. He further adds, that faster scalability was one of the major reasons why LivSpace acquired DezignUp.
Saurabh Jain, Co-Founder and CEO, DezignUp, said,
We are excited to join the LivSpace family. LivSpace’s great technology and design capabilities when complemented with DezignUp’s community and marketplace will naturally make the combined entity much stronger and bigger.
Livspace claims to have seen a staggering 1000% growth in web traffic in the past few months.The startup has hundreds of interior design looks and over 25000 SKUs which are being personalized by homeowners everyday. The company, post its Series A round, has been rapidly hiring in areas like technology, data science, design, and go-to-market, thus seeing an employee growth rate of over 500% since launch.
The biggest competition for Livspace, in India will be Urban Ladder. The online home decor platform recently grabbed undisclosed investment from Silicon Valley Investors Anand Rajaraman and Venky Harinarayan. Prior to that, Urban Ladder had scored a massive $50 Million in Series C round, led by Sequoia.