Hem, a Stockholm, Sweden-based furniture brand, raised $5m in funding.
Verdane Capital joined as new investor in Hem. Following the investment, Verdane partner Staffan Mörndal will join the board of directors.
The company intends to use the funds for building inventory, expanding the US and European teams, and reaching new audiences.
Hem has had an explosive emergence on the modern design market, and has grown a cult following, with the US as the single biggest market. The online-first approach has lately evolved into physical installations, exhibitions and pop-ups, most recently in NYC and L.A.
Founded in 2014 by founder Petrus Palmér, and also led by COO Isac Epstein, and Chairman Mattias Miksche, Hem is a furniture brand that manufactures and sells a portfolio of pieces ranging from tables, sofas and carpets to lighting and accessories, to private consumers, designers, architects and businesses.
The company, which employs a direct-to-customer model to conceive and manufacture design and to make it available to an international audience, offers over 400 products in 34 nations, with the largest markets being the US, followed by Great Britain, Germany and France.
Hem works with the most relevant designers including Max Lamb, Luca Nichetto, Pauline Deltour, GamFratesi and Philippe Malouin.