Furniture subscription rental service Feather is using its latest round of funding to expand to Los Angeles. The company raised $12 million in a Series A funding round, led by Spark Capital, with participation from Kleiner Perkins, Bain Capital Ventures, Y Combinator and Fuel Capital, to name a few. Feather has raised $16 million in funding to date.
Launched in 2017, New York-based Feather was founded on the idea that people might want to rent high-end furniture, especially during the period between college and the first-time, homebuying process.
“The idea here is it really doesn’t make sense to buy furniture between when you get out of college and when you buy your own home,” said Feather Founder Jay Reno at the time. “For people who are between college and owning their first home, ownership doesn’t make sense for big-ticket items. Throughout this period, people are renting houses. Then their second-biggest asset is the car, and the third is renting furniture.”
Feather has forged partnerships with brands, including West Elm, Casper, Tuft & Needle and Pottery Barn. Last week, Feather launched a membership option for $19 per month, giving consumers benefits, such as discounted monthly furniture payments, a free furniture change once a year, and a one-time, free white-glove delivery and assembly service.
“We believe that by providing people with furniture flexibility, we allow them to fully embrace life’s changes, while reducing their environmental impact in the process,” Reno said, according to Retail Dive.
Feather said it will use the new funding to expand its west coast presence into Los Angeles and Orange County, CA. The company added that it already has “thousands” of subscription customers in New York and San Francisco. Its west coast presence will put it in direct competition with Fernish, based in L.A. Fernish recently launched showrooms in L.A. and Seattle, with more planned for the near future.