Cylindo, a Copenhagen-based company that develops software for the furniture industry that includes furniture visualization tools for consumers, has raised € 940 000 (7 million DKK) in investment and is ready to grow its US market, reports TrendsOnline.
Two former classmates Lasse Krügermeier and Janus Jagd, with specialization in game development founded Cylindo in 2012. Since the time of creation Cylindo has come a long way, with particularly high growth during the past 6 months. Cylindo’s software now supports more than 1500 websites and shops, and among its recent customers are Norway’s largest furniture retailer Bohus and the German Bettenwelt.
Cylindo’s visualiation platform has three different levels:
- Viewer – a 360-degree viewing tool
- Utility builder – a feature that enables customers to see the results of different furniture combinations
- Room planner – a feature that allows customers to see given piece of furniture in his own home
The lead investor in this round was Kongens Lyngby with contribution from Scale Capital, an investment fund in San Francisco, and LiteCap. Total investment round amounted to 7 million DKK (€ 940 000).
Lars Jensen, partner at Scale Capital, believes that Cylindo adds a great value to retail store environment with its multi-faceted technology and user-centered approach. He also sees an opportunity to make use of Cylindos visualization platform in several industries other than in the furniture industry.
“We invested in Cylindo because it is the right team and the right technology at the right time. The company supplies retailers and online sellers with the innovation they need to generate sales” says Lars Jensen.
Invested money will be allocated towards US expansion, in particular for hiring more sales people in Cylindo’s San Francisco office.
“We have seen a huge demand for our technology in the US market, and we have proven again and again that we can compete with the largest companies in the area such as Autodesk and Adobe despite the fact they have far more resources than we have” says Janus Jagd, CEO and co-founder of Cylindo.