FurnitureFind.com Completes VC Financing Round - Online retailer looking to acquire call center and technology assets to support rapid growth

Furniture World Magazine

HQ Ventures recently announced an equity investment in FurnitureFind.com, a Michigan-based home furnishings retailer. Founded in 1996 as the electronic-catalog division of a 50-year-old traditional furniture business, FurnitureFind.com is now one of the largest Internet-based furniture retailers, worldwide. "HQ Venture Capital's EVP, Tony Wright said: "FurnitureFind has developed an efficient value chain with favorable cash flow characteristics. They've been able to leverage their proprietary systems and technology to achieve impressive growth." "We need to upgrade and expand our call center and related technologies," added Stephen Antisdel, CEO of FurnitureFind.com. "We're looking for quality." The company's home furnishings sales have more than doubledduring the first half of 2002 compared to the same period in 2001. "The assets we are the most interested in are enterprise class, current technology that's been well maintained," added Kurt Mergener, the company's IT Director. "This includes workstations, servers, storage devices, routers, switches and telephony equipment such as a customer contact center." This recently completed investment makes HQ Venture Capital the largest single outside investor in FurnitureFind Corporation equity. The amount of the investment was undisclosed.