Cylindo Raises $1MM and Prepares for Further Expansion in the U.S.
Manufacturers and retailers including Steelcase, Famsa, Lovesac and Gallery Furniture use Cylindo technology to visualize furniture and drive sales
San Francisco, CA (PRUnderground) March 3rd, 2015
As furniture manufacturers and retailers seek innovative solutions to graphically depict product configurations and room settings to convert browsers to buyers, Cylindo (http://cylindo.com/), a dynamic, high-powered furniture visualization platform, today announced it has raised an additional $1MM in funding. Scale Capital (http://scalecapital.com/), an early-stage venture fund investing in innovative and scalable technology ventures, led the round. The funds will be used for further growth in the U.S. marketplace. Additional investors include LiteCap (http://lite-cap.com/), a private equity firm, and CommerceVC (http://www.commercevc.com/), an early-stage venture fund focused on commerce innovations.
“Cylindo is disrupting retail with its multi-faceted technology and customer-centric approach, and we believe the team is setting new standards for product visualization solutions that reach far beyond the furniture industry,” said Lars Jensen, partner at Scale Capital. “We invested in Cylindo because it is the right team and the right technology at the right time, and provides retailers and online sellers with the innovation they’re looking for to drive sales.”
Cylindo has dominated the market in Scandinavia, attracting many of the top furniture manufacturers and retailers with its expansive technology. Steelcase, Famsa, Lovesac and Gallery Furniture are a few of the more than 1,500 stores and ecommerce sites who use Cylindo’s 360-degree 3D graphic imaging to power their visual display platforms, changing the way customers experience their products and increase sales. Since Q3 2014, Cylindo has seen a 300% growth in recurring revenue.
“Cylindo is the only platform for product visualization where retailers and manufacturers have all of their visualization needs covered by one provider as opposed to the cumbersome process of engaging with multiple product and service providers,” said Janus Jagd, CEO of Cylindo. “Our platform removes the friction retailers have when dealing with products visualization, and we have seen conversion rates increase at an average of 30% when our technology is utilized.”
Founded in 2012, with offices in San Francisco, Copenhagen and Bitola, Cylindo has created a dynamic, high-powered visualization platform that equips furniture retailers and manufacturers with stunning product presentations and storytelling abilities, on websites and in stores. Its multi-faceted, 360-degree 3D technology demystifies complex furniture configurations, simplifies multiplex purchases, and amplifies the sales of such systems for retailers and manufacturers all over the world. Key advisors include David Helgason, founder of Unity, Christian Hjort, CCO with Tradeshift and Eric Lagier, serial entrepreneur and CEO & Co-Founder at Memolane. For more information visit http://www.cylindo.com/.