Dering Hall, a New York City based startup that runs a digital platform focused on high-end home design, has landed $1.4 million in a new round of venture capital.
The investment, which serves as a seed round, included participation from Lerer Ventures, Softbank Capital, Hearst Corporation, and others.
Dering Hall, which was founded in October 2011 and has a full-time staff of 10, is led by two big names in interior design: CEO Peter Sallick has led the transformation of fixtures retailer Waterworks from a family business started by his parents into a big brand, and co-founder Steven Gambrel is an established interior designer whose work is often featured in publications such as Architectural Digest and House Beautiful.
Dering Hall’s mission is to bridge the gap between the high-end home design market and the buying public. The idea is that too often these connections are only known within the design world, and certain up-and-coming names are unknown or inaccessible to the trade and buying public. Around 300 architects, interior designers, and brands are currently registered on Dering Hall, using the site to showcase their work portfolios and sell their products. Dering Hall also includes design-oriented editorial coverage and arranges in-person events.
One of a kind items for sale on Dering Hall
With the new funding, Dering Hall says it plans to expand its reach with designers and customers, and build out new products such as a more comprehensive search tool and broader editorial features.
It’s no surprise to see Lerer Ventures invest in something like Dering Hall, as the firm is well-known for funding startups with good design on the mind — something we discussed in more detail backstage at Disrupt 2013 earlier this month.In a statement issued today, Kenneth Lerer of Lerer Ventures said of his firm’s latest investment:
“Dering Hall combines the best of design with all that technology has to offer consumers and those in the design community. We’re excited that our investment will help fuel its continued across-the-board expansion and help further position the site as unique in the industry.”