Cymax Closes $25M Series A Funding

CYMAX_logoCymax, a Burnaby, British Columbia, Canada-based e-etailer which focuses on home and office furniture, closed a $25m (USD) Series A funding.

The round was led by Frind Holdings, BDC Ventures and Salman Partners.

The company intends to use the funds to accelerate growth of its platform.

Led by Arash Fasihi, CEO, Cymax provides an analytics-based platform for buying and selling furniture online. Since launching in 2004, it has connected shoppers with furniture options they couldn’t previously find online by partnering with manufacturers and handling shipping and delivery.
The company, which moves over 1.4 million boxes a year, now plans to launch an end-to-end e-commerce solution for furniture retailers and proprietary technology that streamlines shipping and logistics.
According to a note, Cymax is on track to do $140m in sales this year.



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