Recommerce leader FloorFound announced today that it has been honored as one of Austin’s Best Places to Work: Small Companies by Built In. Built In ranked FloorFound as a leader based on an algorithm, using company data about compensation, benefits and company wide programming. The program also weighted criteria like remote and flexible work opportunities, programs for DEI and other people-first cultural offerings.
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“It is my honor to extend congratulations to the 2022 Best Places to Work winners,” says Sheridan Orr, Chief Marketing Officer, Built In. “This year saw a record number of entrants — and the past two years fundamentally changed what tech professionals want from work. These honorees have risen to the challenge, evolving to deliver employee experiences that provide the meaning and purpose today’s tech professionals seek.”
FloorFound is the pioneer and leader in recommerce for retail returns of oversized items, providing brands with an end-to-end platform that manages the entire resale process from coordination of initial product pickup through revenue recovery. Influential furniture brands including Joybird, Burrow, Inside Weather, Floyd Home, Sebai and others partner with FloorFound to offer returned and open-box furniture for resale at a discount through branded online storefronts and marketplaces, engaging new customers based on sustainability, value, and prompt delivery.
“FloorFound’s mission is to save the planet by extending the lifecycle of oversized retail products, and we project that nearly 50% of what brands sell in the next five years will be resale items,” said FloorFound CEO Chris Richter. “Our vision and focus on sustainability and recommerce motivates our team to excel each and every day. We’re delighted to receive Built In’s recognition of the exciting company and culture we’re building with our people here in Austin and around the country.”
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A recent survey of 400 U.S. consumers revealed that 95% of consumers are willing to buy returned items, sample models, and other lightly-used goods directly from brands at a discount. This is not surprising given current average lead times on furniture delivery of around 10 weeks. In addition, 77% plan to purchase returned or lightly-used furniture in the next year or two. When they do, 89% expect the shopping experience, delivery, and customer support to be on par with new furniture purchases. To address this significant market opportunity, FloorFound raised $4 million in a seed funding round led by LiveOak Venture Partners, with participation from Next Coast, Flybridge and 8VC, as well as prior investor Schematic Ventures.
“There has been tremendous growth in e-commerce, but the unique challenge is with oversized items — they had no way to be resold,” Mike Marcantonio, principal at LiveOak, told Crunchbase News. “No one had figured this out, but now FloorFound has an exciting way to help the logistics challenge.”