NEW YORK – RugsUSA, an e-commerce supplier of space rugs and residential décor, has signed an settlement with Francisco Companions, a worldwide funding agency that focuses on partnering with expertise firms, to make a development funding in RugsUSA.
“RugsUSa is dislocating the normal retail expertise, and we’re excited to be partnering with the corporate to speed up development in core markets and increase into new classes and geographies,” mentioned Christine Wang, principal at Francisco Companions.
As a part of the settlement, Comvest Companions, an operationally targeted non-public funding agency, will promote its majority place to Fransisco Companions and hold a minority stake within the enterprise. This pending transaction is predicted to shut later this yr.
“We’re thrilled to have Francisco Companions as a strategic accomplice,” mentioned Vidya Jwala, CEO of RugsUSA. “As we proceed scaling our platform, Francisco Companions has deep expertise accelerating the expansion of different expertise and digital commerce companies and is the right accomplice for us as we enter the subsequent chapter in our journey and look to increase our buyer attain sooner or later.”
Erica Crawford, editorial assistant for Furnishings At this time, is a latest graduate of the College of Iowa, with a level in English and a writing certificates in publishing. Along with bringing her writing expertise to the editorial crew, Erica will add her late-Millennial perspective.