US-based 3D imaging home design service provider Modsy has raised $23m in a series B round led by Advance Venture Partners (AVP), the venture and growth capital affiliate of media company Advance Publications.
The round included GV and BBG Ventures, respective vehicles for internet technology provider Alphabet and online media group Oath, as well as Comcast Ventures and NBCUniversal Cable Entertainment, subsidiaries of mass media group Comcast.
Norwest Venture Partners (NVP), Birchmere Ventures and AME Cloud Ventures filled out the round, which boosted the Modsy’s total funding to approximately $34m.
Modsy is a home design service that constructs a digital 3D rendition of a room from photographs submitted by users. It then redesigns the space based on answers to a questionnaire, while users can click and purchase items in the redesigned room that catch their eye.
The company also offers the human touch through certified style advisors for an extra cost. The funding will be used to deliver new product features and expand on strategic partnerships with media and retail brands.
Modsy previously secured $8m in a February 2016 series A round featuring NVP and unnamed additional investors, having raised $2.8m from NVP, Metamorphic Ventures and assorted angel investors in 2015.
Courtney Robinson, partner at AVP, said: “Modsy is fundamentally changing the home design and shopping experience. Many consumers have a hard time buying for their homes but Modsy’s 3D visualisation and personalised styling give its customers the confidence to purchase and create a beautiful space.
“The market potential for a company that sits at the intersection of art, design, media and retail is huge and AVP looks forward to supporting Modsy’s mission to revolutionise the industry.”