SAN FRANCISCO — Oliver Space, which now offers a circular consumer furniture purchasing experience, has raised $36 million to fund its expansion.

The technology-enabled furniture company’s financing was led by Union Grove Venture Partners with participation from new and existing investors Mayfield Fund, USVP, Expa Capital, Abstract Ventures, LG Technology Ventures and Avenue Capital Group.

Under Oliver Space’s new online-based model, consumers can choose from new or refurbished furniture and furnishings across multiple categories, including living room, dining room, bedroom, office, outdoor, lighting, art and accents.

Conditions range from new and like new to very good and age worn with prices trending downward as condition lessens. A sofa that sells for $1,450 when new, for example, is reduced to $750 for age worn.

The company operates in San Francisco, Los Angeles, San Diego, Seattle, Austin and Dallas. Oliver Space offers delivery in as soon as three days from purchase, and used products can be traded in for credit and picked up for free, at which time technicians clean and repair items before the company makes them available for 20% to 50% discounts.

“For decades, the furnishing experience has been excruciating for consumers, and it starts with the broken cycle of furniture,” said Chan Park, CEO and co-founder. “Consumers wait months for expensive furniture to arrive and are faced with a laborious used furniture resale experience that leads many to throw pieces out on the street.

“Oliver has the unique ability to give consumers what they want: affordable furniture without sacrificing quality, style or time,” said Park.

The company launched in 2019 as a monthly subscription furniture model, delivering and setting up furniture and furnishings that customers could either purchase or return when they moved.

See also: Ikea CEO predicts furniture retailing will be 100% circular, climate and people positive in 20 years

I'm Joanne Friedrick, research editor for the Home Furnishings Division. I began my career as a newspaper editor and then became a trade journalist, covering myriad industries including pension funds, supermarkets, gourmet food and security systems, just to name a few. Most recently, I entered the home furnishings category as a contributor for HFN and Home Textiles Today before transitioning into research where I now get to tell the stories behind the numbers for all of the HFD titles.

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