My Bespoke Room, the tech-enabled interior design service, has closed £700,000 angel investment as it reports 104% annual revenue growth. This brings total investment in the female-founded business to £2m since 2014, as it continues to build innovative new products that benefit customers and designers.
This investment round, which included high-net worth individuals from Angelgroups and Connectd, will help My Bespoke Room deliver on its mission to support more meaningful businesses and careers in interior design.
The funds will be used to scale My Bespoke Room’s operations and to invest in a new software as a service (SaaS) platform that will help independent designers to run their business more efficiently, connect them with an engaged online community, and to extend their client reach. Advancements to the platform will include smart algorithmic sourcing, automated ordering, and integration with accounting software.
My Bespoke Room was founded in 2014 by Diana Greenhalgh and Laura Simpson. They started the business, after successful careers with brands including L’Oreal, Apple and Liz Earle, when they were both frustrated with the process of renovating and furnishing their homes. They identified a gap in the market to launch an easy-to-use online interior design service, at the fraction of the cost of traditional services.
Diana Greenhalgh, co-founder of My Bespoke Room commented: “We have been blown away by the support we have received, particularly after a funding round that fell through in March this year due to Covid taking us all by surprise. We were fortunate enough to bounce back quickly and achieve strong growth with people spending more time at home. Now, we want to share our knowledge and tools to help more small businesses and start-ups take back control. This funding will allow us to build technology that helps designers get back to doing what they love: working with customers, creating beautiful designs, and growing their business.”
Laura Simson, co-founder of My Bespoke Room, added: “Globally, we are all spending more time in our homes; not only are they becoming more important to us, but we are demanding more from them. We feel very fortunate that our business is perfectly placed to succeed in a category that is experiencing such a shift in behaviour. There has been very little investment in our space to date, and we are very excited about our growth and our newly launched SaaS product that allows other designers to have a piece of our magic; to set up, run and grow their own businesses.”
Martin Avison, founder of Angelgroups, a fast-growing network of business angels, commented: “Our angel investors seek out disruptive technologies that challenge the status quo. My Bespoke Room has always challenged the way things are done and this approach will help them to become a dominant player in the sector. We were delighted to connect Diana and Laura with experienced investors to support the next stage of their impressive growth.”