Homepolish

The firm's business model was designed to make interior design more accessible and transparent. It connected clients with a network of vetted freelance interior designers, charging a flat hourly rate instead of the traditional commission-based model. This structure was intended to remove the incentive for designers to inflate budgets. Homepolish catered primarily to young professionals who had disposable income but not enough for high-end design firms. The platform handled administrative tasks like billing and project management, allowing designers to focus on creative work. The company also offered clients discounts on furniture from partner brands like West Elm and Restoration Hardware.

Homepolish gained significant traction, attracting high-profile clients such as Karlie Kloss, Goop, and Venmo. The startup's robust social media presence, particularly on Instagram where it amassed nearly 2 million followers, was a key component of its marketing strategy. In January 2016, the company announced a $20 million Series A funding round led by Elephant Venture Capital, which valued the company at $100 million. Following the investment, the company attempted to scale rapidly, launching and quickly shelving new initiatives like an e-commerce marketplace and a service to employ designers full-time.

By 2019, the company was facing severe financial difficulties. It struggled with a high cash burn rate, a loss of focus on its core business, and an inability to secure further funding. Public complaints from clients, including influential social media personalities, damaged the company's reputation. In September 2019, CEO Noa Santos announced in a video call to designers that the company was ceasing operations, unable to pay its outstanding debts or refund clients and designers. In 2020, the company's digital assets were acquired by F. Schumacher & Co., which subsequently launched a new membership community for designers called Freddie, with Santos serving as an adviser.