HomeLane– Company Profile

HomeLane is a leading interior design solutions and home furnishings marketplace. The company was founded in 2014 and is headquartered in Bengaluru. HomeLane has emerged as a disruptor in the interior design sector by integrating the key streams of design, functionality and high-end technology. It has been successful in providing customers a one-stop-shop for all their interior design needs, covering everything from design to delivery, installation and post-installation services. One of the USPs of HomeLane is its co-creation platform that allows customers to interact with designers and make changes to the design. This saves time and effort, as everything gets done online.

History:

The interior design sector in India had remained largely unorganized and customers would often have to face various problems such as sub-standard work quality, unexplained delays, high costs, etc. HomeLane founder Srikanth Iyer had a similar experience when he was trying to set up his home. Not happy with the quality and efficiency of services, Iyer decided that it was time to bring corporate standards to the interior design sector. This is how the idea for HomeLane came into being and the company was launched in 2014.

Owing to its customer-friendly business model, HomeLane has grown exponentially in the last few years. HomeLane offers 45-day installation guarantee and a five-year warranty on installations, which have really been beneficial for its customers. Till date, the company has executed more than 1900 projects. It has expanded operations to other top cities such as New Delhi, Mumbai, Chennai, Hyderabad, Gurgaon, Ghaziabad, Noida, and Thane. The company has plans to expand operations to other cities as well in the coming years.

Funding:

Till date, HomeLane has received investments worth $64.5 million through three rounds of funding. Investors include Sequoia Capital, Aarin Capital, GrowthStory, Baring Private Equity Partners India, and Accel Partners.

Acquisitions:

HomeLane has acquired two companies till date. The first acquisition was that of Doowup, which was made in September 2015. Doowup was a home decor virtualizationplatform and it was acquired by HomeLane for an undisclosed amount. The second acquisition was that of CapriCoast in November 2017. CapriCoast was an online marketplace for home interior goods and it was acquired by HomeLane for Rs 90 crore.

Competition:

HomeLane competes with other players in the home interiors sector such as Livspace, CustomFurnish, Foyr, goHomez, and Furdo.

About the Founder:

HomeLane was founded by Srikanth Iyer, who currently serves as the CEO of the company. Iyer had earlier worked with Wipro, Total Solutions, TutorVista, Pearson India, Diksha Technologies and Unitus Seed Fund.