Dering Hall Raises $2.5 Million in Series A Financing
NEW YORK, Feb. 4, 2015 -- Dering Hall, the online portal for high-end home furnishings, today announced that it has raised $2.5 million in Series A funding. Investors participating in the round include Hearst Magazines, Lerer Hippeau Ventures and SoftBank Capital. The new equity will support the continued expansion of the team and additional investment in technology. In addition, Dering Hall has acquired the assets of Detroit-based start-up Doodle Home, a B2B software platform specialized in the home and interior design industry.
Dering Hall's first-of-its-kind platform for the luxury design industry presents established brands, emerging artisans, design galleries, designers, and architects all in one easy-to-navigate place. The site provides access to thousands of curated furnishings and design products with its marketplace model, empowering its community to reach new customers and clientele, grow their online presence, and gain entry to an e-commerce point of sale.
"Dering Hall fills the void that previously existed in the luxury design category online by providing a platform where the exceptional quality and talent in the industry meet in one place to market their work," said Peter Sallick, CEO of Dering Hall. "This investment will enable us to further scale the business and expand our product and service offerings to reinforce the site as the premier online destination for high-end home design."
The company plans to use the funding for new functionality to further optimize the curated online shopping experience for professionals and consumers, which will be supplemented by the acquisition of Doodle Home's digital assets. Additionally, Dering Hall will leverage the investment to expand its organization and grow the presence of non-US brands on its site.
Jennifer Gilbert, Founder of Doodle Home, will join Dering Hall's Board of Directors. "I am honored by the invitation to join Dering Hall's Board of Directors, a seasoned group that continues to raise the bar in the luxury design industry," said Gilbert. "I look forward to working with Peter Sallick and his management team to deliver on their vision. This is an exciting opportunity to contribute to Dering Hall's strategic growth"
"We've been proud to partner with Dering Hall from the start. The transformation of all industries, and especially the design world, is sure to accelerate, and we expect Dering Hall to play a key role in broadening the demand for high end home furnishings," said David Carey, President of Hearst Magazines.
Visit Dering Hall at http://www.deringhall.com/
About Dering Hall
Dering Hall, www.DeringHall.com, is changing the way interior designers, architects, and sophisticated consumers find high-end home décor furnishings for serious design projects. We make it easier for design professionals to contact and buy directly from more than 500 high-end home furnishing showrooms, artisans, and brands. Dering Hall also markets the services of top-tier interior designers and architects to sophisticated consumers through its designer directory. Dering Hall charges all of its members—namely brands and design professionals—a monthly subscription fee. In turn, we promote the products and work of our members via digital marketing, social media, and a robust editorial section geared towards educating design professionals and consumers on the value of high-end products and professional design services.