Online interior design brand Modsy shuts down, lays off employees
- ByStartupStory | July 18, 2022
The brand offering online interior design services Modsy quietly ceased operations, leaving several customers with ongoing projects and unfinished renovations. The firm which is based in San Francisco Modsy immediately stopped providing design services, fired its designers, and abandoned its customers in a state of confusion.
The startup gave back certain service order fees and assured users who filled out an online form that furniture delivery would be refunded. The firm raised $72.7 million in total until its most recent investment round ended in May 2019.
BesteverApp founder Apoorva Govind tweeted on Monday: “I’m really sorry to hear that Modsy is closing down! In terms of interior design, it was one of my favourite services! I’m devastated. They have excellent 3D design software.” “Me too! and countless more who have orders with Modsy that are pending, “added by another user.
Shanna Tellerman, the founder and CEO of Modsy, stated that “capital restraints and a shaky market led the company to halt operations on July 6 and lay off all staff.” Modsy has reportedly deleted its Twitter and Facebook profiles and made its Instagram account private, however the company’s website is still accessible.
According to Tellerman, a “new organisation” purchased Modsy’s assets. Customers will be informed of the next measures to take in order to satisfy their demands. TCV, Comcast Ventures, Norwest Venture Partners, and NBC Universal were among the investors in Modsy.
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