Singapore's online home automation platform Livspace has invested $70 million in Series C financing, with global investment funds TPG Growth and Goldman Sachs leading the way.

Existing investors including Jungle Ventures, Bessemer Venture Partners and Helion Ventures are investing.

Livspace will use these funds to expand its business to six new Indian cities by 2019 while achieving deeper penetration in existing markets. The company currently serves seven markets, including Bangalore, Mumbai, Delhi and Hyderabad.

Launched in 2015 by Anuj Srivastava and Ramakant Sharma, Livspace is a home interior decoration platform. Its three-way market brings together homeowners, well-planned designers and distributor communities. Homeowners can find designers in all the rooms in the home – design and delivery are done in a predictable and worry-free way.

Livspace offers interior design in seven cities currently operating, including kitchens, walk-in closets, furniture, upholstery, and all contracting services from floor to ceiling to paint. In August of this year, the company began operations in Hyderabad and is currently moving towards a goal of more than $100 million in annual revenues in March 2019.

In the past 18 months, Livspace has claimed that its total revenue has more than quadrupled. In addition, it has achieved unit economic profit in the previously launched market.

In 2016, the company launched Canvas, a design-to-installation platform for the interior design industry.

CEO Srivastava said: “Our vision is to reshape the way people around the world design and renovate their homes. In an industry that has traditionally struggled with scale, we have created the first technology platform from design to installation. And a highly scalable market model."

To drive its expansion efforts, the company plans to expand its offline footprint through the Livspace Design Center, an experiential store that plays a key role in its omni-channel strategy. The newest large design center will provide consumers with a new brand experience. In addition, the company will continue to invest in the growth of its design partner community, including interior designers and small design studios, as well as supplier communities including brands, contractors and service partners.

On the product side, new in-house solutions and products will work with new technology innovations to provide services to homeowners and design partners. They will be delivered through Livspace's proprietary design to the installation platform Canvas.

In 2016, the company received a $15 million investment in the financing round of Bessemer Ventures Partners, with Jungle Ventures and Helion Venture Partners participating.

（Source: JJgle.com）