Floyd, Inc., a Detroit, MI-based online furniture company, has raised $5.6m in Series A funding.
Beringea, a private equity firm providing growth capital to high growth, high potential businesses, made the new investment.
The capital will enable the company to expand its existing product line, scale its marketing, and grow its team.
Co-founded by Kyle Hoff and Alex O’Dell in 2014, Floyd is an online furniture company that designs and manufactures high-quality pieces. The company has created and launched The Floyd Platform Bed two years ago and recently introduced The Floyd Table, a multipurpose table. The brand has also launched Stay Floyd, an innovative partnership with select Airbnb hosts that places the frames in design-led listings from Joshua Tree to Toronto to the Catskills.
All products ship directly to consumers’ homes within days and without any fees.
The furniture is built in American factories.