Online interior design startup Modsy shuts down, lays off employees

July 22, 2022July 22, 2022

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Modsy based in San Francisco suddenly stopped offering design services, stopped his designers and left its customers in a mess, reported Techcrunch.Startup restores some service order fees and promises to restore furniture delivery to those who fill out online forms.

But more than two weeks later, Tweet shows that many modsy customers are still waiting for an update,” the report said on Sunday night.Apoorva Govind, founder of Besteverapp, tweeted on Monday: “I am very disappointed that Modsy is closed! It was one of my favorite services when I came to the interior design !! I was very disappointed. Their 3D design software was the top notch.”

“Me too! And many other people who have orders that are delayed with modsy,” other users posted.According to the report, while the company’s website continues to operate, Modsy has deleted its Twitter and Facebook pages and made its Instagram account private.

Founder and CEO of Modsy Shanna Tellerman told Techcrunch that “Capital Constraints and Market Conditions that are not certain to force the company to stop the operation on July 6 and dismiss all employees”.Modsy assets were acquired by “Entitya Baru and customers will be notified of the next step on how to meet their needs,” Tellerman added.

Investors in Modsy include TCV, Comcast Ventures, Norwest Venture Partners, and NBC Universal.The startup’s final funding round was closed in May 2019, so the total fundraising became $ 72.7 million, according to Crunchbase.