Startup Series: Homespring - High Quality Furniture for Generation Rent
Environmentally conscious, commitment phobic, or just indecisive? In a market research survey conducted by Lab42 published by Adweek, most millenials today aged 18-38 prefer renting over purchasing goods. Today, thanks to the rise of rental subscription services ranging from clothing to furniture, tools to technology, millennials can now pick from best in class offerings and incur minimum cost for maximum gain, all while saving the environment. How's that for a mission?
Homespring, one of our Amsterdam based portfolio companies, is building a furniture subscription service focused on letting users rent high quality furniture from premium brands. Research Nester's industry analysis on the Global Commercial & Residential Furniture Rental Market shows that the named market can be expected to garner USD 33,861 Million by the end of 2025. Working towards taking a chunk of that, we caught up with Homespring to learn more about how they are growing their business, and how COVID-19 has changed their lives.
The team behind Homespring
Founded by good friends, Jozef Misik (CEO), George Ankomah (CMO) and Max Schulkens (CTO), the idea for the company was born out of Antler Amsterdam's inaugural cohort in May 2019, where Jozef spent time thinking about how to best bring this idea to life. With shared experiences in entrepreneurship, tech investing and a passion for innovation, Homespring's co-founding team was born.
How Homespring works
Using Homespring is simple. By giving customers access to high quality furniture that is assembled on demand for a low monthly subscription price, Homespring gives you the option to return or keep items - minus the rental fee you've already spent should you choose to keep your selected item. With a focus on helping customers select the high quality items they'd like to have, Homespring gives customers the ability to create their Instagram-ready dream home quickly and easily.
Post Demo Day
The future can be uncertain for some startups, but not for Homespring. With a clear sense of what they wanted to accomplish post Demo Day in November 2019, Homespring honed in on three key milestones after Demo Day -- customer acquisition, furniture brand on-boarding, and furniture financing. With these three milestones secured over the last several months, they were able to achieve their mission -- to have happy customers -- with purposeful ease.
How the Home and Garden category is growing during Covid-19
According to SEMRUSH, COVID-19 consumer spending looks positive for the Home and Garden category, growing up to 79% in search volume since the beginning of the pandemic. With more people turning to online home solutions to decorate and furnish their homes because retail stores are closed along with a renewed consumer interest in home improvement, Homespring has seen an increased demand for its services. However, despite these positive early indicators, the team is opting to be cautiously optimistic, scaling slowly and steadily for now to ensure that they are able to keep delivering on their brand values and world class customer experience.
As CEO, Jozef shared with us that he is excited to, collectively with his stellar team, set his entrepreneurial spirit free and with it dive into the market expansion phase for Homespring. Early results look promising, and with us all having become more conscious of turning our homes into the best versions they can be, we think the sky is the limit for Homespring.
Want to know more about what they are building? Find out more on their website.
Must-read articles from Antler
Browse our collection of founder stories, industry insights and latest startup successes from Antler Australia
Sharon Li & Vanessa Chen: Empowering employees to be their healthiest and most productive selves
“People sometimes think the emotional and professional are conflicting, but what we believe is when people love their organization, the emotional value will actually make them productive. It will make them give their full self to the organization and make the organization grow for the long term.” —Sharon Li, co-founder and CEO of CHOYS
Piet Hein van Dam: The seasoned data entrepreneur aiming to eradicate type 2 diabetes
Our content series "It All Starts with People" delves into the passions, motivations, and vision of the exceptional founders we have the privilege of partnering with around the world. Bringing a clarity of vision to our latest spotlight is Piet Hein van Dam, co-founder of Clear, the award-winning digital self-help tool for diabetes patients.
Unpacking the $80+ billion ONDC opportunity: India’s next startup catalyst
India's approach to unbundle payments made the world look up and take notice. Now it's time to disrupt commerce with the Open Network for Digital Commerce or ONDC. In our latest Theory of Next deep dive we mapped, researched, and reached out to every network participant live on ONDC right now.
And we're excited to share with you a comprehensive what could be India's next unicorn catalyst with inputs from Vibhor Jain (COO of ONDC), Sujith Nair (Founding member of Beckn Protocol), and founders building on ONDC!
Co-authored by Nitin Sharma (Partner, Antler) and Gokul Kumaravelu.
Five steps investors can take to support more diverse founders
Despite growing calls to create a more inclusive venture capital ecosystem and remove the barriers to entrepreneurship, only a fraction of funding is raised by founders from underrepresented communities.
The first step towards change is quantifying the challenge. While in-depth research has been conducted about women founders and founders from ethnic minority backgrounds, data has never existed about tech founders from the LGBTQ+ community—until now.
A record year for Europe's leading day zero investor
A look back at 2022, a record year for the leading day zero investor in Europe—showcasing investment activity and key predictions for the early-stage tech ecosystem in 2023.
Antler and Microsoft for Startups partner to back women founders
Antler is proud to join forces with Microsoft for Startups to support rising entrepreneurs—starting with 23 non-dilutive grants to women founders in South Asia, Southeast Asia, and North America—and reduce the barriers to startup success. Meet some of these founders.
Tanika McLeod: The educator empowering the next generation with an on-demand social learning platform
Our content series—"It All Starts with People"—delves into the passions, motivations, and vision of the exceptional founders we have the privilege of partnering with around the world. In our latest spotlight, we spoke with Tanika McLeod, one of the three co-founders behind MinuteSkill, a Toronto-based social micro-learning platform that uses bite-sized content and knowledge-sharing communities to empower the next generation.
Venture capital as an engine of positive transformation
Antler's second annual ESG and Impact Report shares learnings on how VCs can focus on creating sustainable value from the outset, and celebrates our portfolio companies' work in this space.