Oliver Space Announces $36M in New Financing to Redesign the Broken Furniture Buy-Disposal Cycle

Launch of refurbished and trade-in products, Oliver space brings the entire furniture cycle under one roof

SAN FRANCISCO, August 9, 2022 /PRNewswire/ — Oliver spacea technology-enabled furniture company that offers a fully circular consumer furniture experience from purchase to exchange, today announced that it has increased $36 million in funding.

The financing was led by Union Grove Venture Partners, with participation from new and existing investors including Mayfield Fund, USVP, Expa Capital, Abstract Ventures, LG Technology Ventures and Avenue Capital Group.

“For decades, the furniture experience has been excruciating for consumers, and it starts with the broken furniture cycle,” says Chan ParkCEO and co-founder of Oliver space. “Consumers wait months for expensive furniture to arrive and are faced with a painstaking used furniture resale experience that leads many to throw pieces on the street. Furniture is America’s largest imported consumer goods category, but at the same time It is the second largest source of urban waste, with 20 billion pounds of furniture going to landfill every year.”

Oliver space redesigned this broken cycle creating a fully circular shopping experience. Users can select new or renovated furniture, with multiple condition options, and schedule delivery for up to three days. The products can then be exchanged for credit and picked up free of charge. Oliver technicians meticulously clean and repair returned items before making them available at a 20-50% discount. All deliveries and collections include specialist assembly and disassembly.

Oliver space ad offers a solution for consumers amidst the challenges of the furniture industry. As the annual inflation rate reaches 9%, furniture prices rose 15% year-over-year, further compounded by supply chain disruptions. Oliver space The innovative offering is proving to be specifically developed for these volatile times as the company’s revenue grew by nearly 5x in the past year.

Oliver space is the only company that guarantees a consistent range of new and refurbished items at various price points, fast delivery and assembly on every order, and a seamless exchange experience,” explains Park. “In this way, Oliver has the unique ability to give consumers what they want: affordable furniture without sacrificing quality, style or time.”

About Oliver space

Oliver space reinvented home furniture since launching in 2019. Based in San Francisco, Oliver space also services The angels, Seattle, San Diego, Austinand Dallas. Find Oliver space at the www.oliver.space and @oliver.space.

media contact
Olivia Whitener
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SOURCE Oliver space

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