ST. PETERSBURG, Fla. – Marxent, a furniture technology provider, has secured Series C financing to fund international expansion and new product development.
“3D room planning and augmented reality apps for furniture went from value-add solutions to essential business priorities,” said Beck Besecker, Marxent’s CEO and c-founder. “The time is right to further invest in strategic growth initiatives.”
Bellini Capital is the lead investor in the round. Lead partner Arnie Bellini said he expects the Marxent platform to transform its category the way Netflix and Tesla did for their categories.
“With a blue-chip client base, proven ROI, millions of buyable SKUs, and hundreds of millions in 3D-enabled sales, Marxent’s 3D Cloud is the virtual selling platform of choice for high-value, configurable products for the home,” said Bellini.
Marxent’s mission is to create a 3D ecosystem for enterprise furniture, building products, and home improvement retailers and manufacturers that makes it easy to sell high-value, configurable products online. The company’s clients include Lowe’s Home Improvement, Ashley HomeStore, Macy’s, La-Z-Boy, Herman Miller and Jerome’s Furniture in the U.S.
The company’s new initiatives include growth in Europe, the U.K. and other markets; increasing the number of highly requested, valued-added features on its platform; expanding to new home categories; and integrating with Pinterest and other platforms.
To support the growing 3D needs of its overseas clients, including John Lewis and Kingfisher, Marxent will expand its U.K. and French offices.
“This investment enables us to further support the now permanent priority of e-commerce and the role of new hybrid stores,” said Leigh Davidson, Marxent Europe managing director.