'Hybrid-friendly' office furniture maker raises $10 million in funding

Branch home office products including an ergonomic chair and table.

NEW YORK - Branch, an office-furniture startup that offers furniture built for remote workers and growing teams, has raised $10 million in Series A funding, bringing the company's total funding raised to date to $14M.

The financing was led by Springdale Ventures, with participation from new and existing investors and angels active in the proptech and DTC markets.

Launched in 2019 by Greg Hayes, Sib Mahapatra and Verity Sylvester, Branch will use the financing to accelerate new product development, optimize its supply chain, expand headcount, and build a digital ecosystem around its products, according to a  company statement.

The new capital will further the company in its mission to make quality products, office design services and ergonomic support more accessible to remote workers and hybrid teams looking to invest in workplace well-being without exorbitant price tags.

The financing builds on an exceptional year for Branch, which quadrupled revenue while approaching net profitability and generating a SaaS-like $2M of revenue per employee through unprecedented turbulence in supply chains.

With a dual focus on serving consumers and on-premise corporate teams, a diversified mix of acquisition channels, and an industry-leading NPS score, Branch said it is equipped to serve the expanded addressable market catalyzed by COVID-19 and the enduring shift to hybrid work.

The business forecasts high eight figures of revenue and more than 200,000 customers served in 2022. Their Ergonomic Chair has sold out more than ten times since the start of the pandemic and received acclaim and numerous accolades from reviewers, press, and tens of thousands of consumers, said Greg Hayes, Co-Founder and CEO of Branch. 

"Many of us spend more time interacting with office furniture than any other product except our mattress—and in our case, you're awake," said Hayes. "But most premium office furniture is expensive, especially for businesses purchasing through traditional dealers, and over the past two years of remote work, consumers have realized that 'fast furniture' doesn't cut it. By combining the craftsmanship, ergonomics and service of contract furniture with the ease and value of fast furniture, Branch supports office workers whether they're in the home office, on-premise with their team, or working hybrid across both environments."

The company's furniture line includes everything needed to outfit an office: ergonomic chairs, standing desks, workstations for teams, filing cabinets, conference room furniture and space division. Delivery is available in the 48 contiguous states and Canada through branchfurniture.com and branchfurniture.ca, with additional retail and physical channels soon to be announced.

In addition to Springdale, participating investors include Maywic Select Investments, Group RMC, Agya Ventures, and notable operators in the proptech and DTC worlds, including Ricky Joshi (Founder of Saatva Mattress), Ryan Simonetti (Founder of Convene), and Jiake Liu (Founder of Outer). All major existing investors, including Nine Four Ventures, Alate Partners, RRE and prominent angels like Ben Zises's SuperAngel Fund, participated in the round.

 

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Larry Adams | Editor

Larry Adams is a Chicago-based writer and editor who writes about how things get done. A former wire service and community newspaper reporter, Larry is an award-winning writer with more than three decades of experience. In addition to writing about woodworking, he has covered science, metrology, metalworking, industrial design, quality control, imaging, Swiss and micromanufacturing . He was previously a Tabbie Award winner for his coverage of nano-based coatings technology for the automotive industry. Larry volunteers for the historic preservation group, the Kalo Foundation/Ianelli Studios, and the science-based group, Chicago Council on Science and Technology (C2ST).