- Furniture rental company Feather announced it has raised $30 million Series B funding round led by Cobalt Capital
Furniture rental company Feather announced it has raised $30 million Series B funding round led by Cobalt Capital according to Furniture Today. Including this round of funding, Feather has raised a total of $46 million. With this round of funding, Feather plans to scale the company’s reverse logistics infrastructure and expand into new markets. Plus Feather plans to double the employee count.
The additional investors in the current round include Spark Capital, Kleiner Perkins, Bain Capital, Y Combinator, SV Angel, PJC, Fuel Capital, and Wildcat Capital Management LLC.
Feather founder & CEO Jay Reno came up with the idea for Feather in 2016. And in 2019, Feather saw a 400% increase in year-over-year customer growth. And the company also expanded to four major markets across the U.S., including New York, San Francisco, Los Angeles and Orange County.
“Feather is a revolutionary furniture solution changing the way people outfit their homes. We’re thrilled to support Jay (Reno, Feather CEO) and help the team build this next-generation furniture offering by leveraging our experience scaling consumer and digital content companies.”
– Cobalt Capital partner Dan Abrams
“We offer a differentiated experience with our intense focus on local warehousing and last-mile delivery. Our average order number includes eight items and all our customers’ experience product that is delivered and set up in their homes for free.”
– Feather founder & CEO Jay Reno