US-based furniture rental service CasaOne has closed a $16m series B round featuring workspace provider WeWork, office furniture supplier HNI and JLL Spark, real estate services firm JLL’s corporate venturing unit.
The round was led by venture capital firm Accel and included Freestyle Capital, NextWorld Capital, Array Ventures, Quiet Capital and angel investors including Lydia Jett.
CasaOne provides residential furniture for rent on demand, and launched a dedicated office furniture-focused service called BureauOne in May this year.
Some details of the round were reported by the Wall Street Journal in September this year, and the publication stated that it valued the company at between $100m and $150m.
The company has not confirmed details of earlier funding but it identified JLL Spark, Freestyle Capital, NextWorld Capital and Array Ventures as existing backers, and TechCircle reported it has now raised $27.5m in total.
Shashank PS, CasaOne’s founder and chief executive, said: “The backing and expertise of our financial and strategic investors will help us execute our vision even more rapidly and broadly – in a category that previously has not seen much innovation.
“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.”
