Furniture startup Burrow raises $25M
Burrow participated in the Y Combinator accelerator in 2016 with an initial aim of building sofas that, by virtue of being modular, were easier to move and adapt to a variety of living spaces. Now its product lineup also includes armchairs, ottomans, tables, rugs, lights and other accessories. In fact, the company says it launched 19 new products last year, including a modular shelving system.
When I asked via email about this expansion, co-founder and CEO Stephen Kuhl told me that the company follows “a very rigorous research process” involving customer surveys, focus groups, online search data and more.
“The goal is to match the largest customer needs with the biggest market opportunities,” Kuhl said. “Once it’s clear what category to enter, we use our research to define how we’re going to develop the best version(s) of each product for our customer base, and how we’re going to build the best end-to-end customer experience around that product. I’m probably going to jinx it, but every single product we’ve ever launched has exceeded projections, a testament to our customer-centric, research-driven design process.”
Burrow says it saw triple-digit revenue growth last year, a trend it anticipates continuing in 2021. Kuhl suggested that the startup is also benefitting from broader trends accelerated during the pandemic, including the (Read more...)