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Thursday, September 23, 2021
Home Design Interiors RugsUSA announces growth investment from Francisco Partners | Home Accents Today

RugsUSA announces growth investment from Francisco Partners | Home Accents Today


NEW YORK – RugsUSA, an e-commerce supplier of space rugs and residential décor, has signed an settlement with Francisco Companions, a worldwide funding agency that focuses on partnering with expertise corporations, to make a progress funding in RugsUSA.  

“RugsUSa is dislocating the normal retail expertise, and we’re excited to be partnering with the corporate to speed up progress in core markets and broaden into new classes and geographies,” mentioned Christine Wang, principal at Francisco Companions. 

As a part of the settlement, Comvest Companions, an operationally targeted non-public funding agency, will promote its majority place to Fransisco Companions and preserve a minority stake within the enterprise. This pending transaction is predicted to shut later this 12 months.  

“We’re thrilled to have Francisco Companions as a strategic companion,” mentioned Vidya Jwala, CEO of RugsUSA. “As we proceed scaling our platform, Francisco Companions has deep expertise accelerating the expansion of different expertise and digital commerce companies and is the proper companion for us as we enter the following chapter in our journey and look to broaden our buyer attain sooner or later.” 

Erica Crawford, editorial assistant for Furnishings Right now, is a current graduate of the College of Iowa, with a level in English and a writing certificates in publishing. Along with bringing her writing expertise to the editorial workforce, Erica will add her late-Millennial perspective.

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