Furniture brand Swoon Editions raises £1.2m in deal led by Octopus Investments
Seed round backed by Index Ventures and angel investors to expand portfolio and UK market reach
‘Audition led’ furniture brand Swoon Editions, formerly trading as Decoholic, has secured £1.2m in a seed round led by venture capital group Octopus Investments.
The deal marks the furniture company’s first external investment and saw it receive additional backing from Index Ventures and angel investors.
Founded in March 2012 by former CEO of The Number UK, Brian Harrison, and ex-Telegraph Media digital product developer Debbie Williamson, Swoon Editions develops prototype furniture designs based on trending styles and invites customers to vote on each of its pieces in a design ‘audition’.
Designs which receive the most votes are then produced and manufactured and made available to consumers in ‘limited edition’ numbers.
Swoon Editions will compete directly with Made.com, which was backed by Brent Hoberman’s investment vehicle PROfounders to the tune of £2.5m in 2010 and subsequently secured a Series B round of £6m led by American investment firm Level Equity.
The investment in Harrison and Williamson’s venture will see the furniture specialist extend its range of products and it also intends to accelerate its marketing across the UK.
Discussing its decision to back Swoon Editions, Simon Andrews of Octopus Investments commented: “The passion for high quality design and manufacturing, and the vision for how to reshape an industry stood out clearly for us.”
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Robin Klein, who led the investment for Index Ventures, added: “Debbie and Brian use their exceptional analytical skills and meticulous attention to quality and detail in order to simplify an often complex and inefficient supply chain.
“The result is a compelling business model for both investors and customers.”