Used furniture marketplace Kaiyo has found that more people are cozying up to the idea of buying second-hand furniture.
Kaiyo said in a news release that it has experienced more than 100 percent growth year over year due to supply chain bottlenecks and consumers’ desire to reuse materials rather than contribute to landfill waste. Buying pre-owned furniture also makes designer names more affordable.
Kaiyo founder and CEO Alpay Koralturk said in a statement that the company’s mission is to make great design accessible to everyone in the second-hand market.
“In the last few years, our revenue growth and customer satisfaction scores have proven that, by putting convenience first and intelligently leveraging data, we incentivize more people to consider second-hand as their first option,” he said.
The New York-based startup announced Tuesday that it raised $36 million in Series B funding, bringing the the company’s fundraising total to nearly $50 million. With the new funding, the company plans to expand to more markets, starting with California.
Kaiyo allows users to conveniently buy and sell pre-owned furniture from high-quality brands such as Restoration Hardware, Design Within Reach, West Elm and Room & Board.
Currently, Kaiyo provides white-glove delivery service to the New York, Philadelphia, Baltimore, and Washington, D.C. metropolitan areas.
Kaiyo isn’t the only startup that has noticed the demand for pre-owned furniture. In Austin and southern California, pre-owned furniture retailer Loveseat recently pivoted to auctioning off furniture returned by local e-commerce customers, as well as overstock furniture from retailers.
