Online furniture and home decor brand Urban Ladder on Thursday said the company has raised $12 million in fresh funding from existing investors Kalaari Capital, Saif Partners, Sequoia Capital and Steadview Capital. With the current round, the Bengaluru-based company has raised about $27 million over the last 13 months. Urban Ladder had raised $15 million in January last year. According to a press release, the funds will be used to further the company’s omni-channel expansion, a step towards profitability in FY19. “With a $27-million infusion over 12 months, the existing investors strongly believe that Urban Ladder’s omni-channel approach and profitability push is a winning strategy to build a powerful retail brand,” the press statement added.
Urban Ladder, founded in 2012 by Ashish Goel and Rajiv Srivatsa, begun as an online furniture retailer and entered the offline retail market in July 2017. In August 2017, Urban Ladder was approved for a single-brand retail licence and since then, has transitioned from a marketplace to an inventory-led omni-channel brand. According to data from Crunchbase, Urban Ladder has so far raised about $95.2 million in total funding.