Emerging Swedish furniture brand Hem welcomes Verdane as new investor
Stockholm — USD 5m investment will be used for building inventory, expanding the US and European teams, and reaching new audiences.
Soon to be 4-year-old company Hem has had an explosive emergence on the modern design market, and has grown a cult following, with the US as the single biggest market. The online-first approach has lately evolved into physical installations, exhibitions and pop-ups, most recently in NYC and L.A.
“We are deeply impressed by the quality of Hem’s products and management team. Customer references are simply exceptional and Hem’s customers tell us that they love Hem’s quality, price and service. We now look forward to helping take the offering to new audiences around the globe” – Staffan Mörndal, Partner, Verdane
“Hem’s biggest challenge during the past years has been to keep up with the demand. Boosting both inventory and the team globally will ensure shorter leadtimes and excellent service for all our customers” – Isac Epstein, COO, Hem
Following the investment, Verdane partner Staffan Mörndal will join founder Petrus Palmér, COO Isac Epstein, and Chairman Mattias Miksche on the board of directors.
Verdane funds provide flexible growth capital to fast-growing software, consumer internet, energy or high-technology industry businesses, through both minority and majority investments in individual companies and portfolios. Verdane funds act as ambitious, active, and long-term owners, helping management teams and companies accelerate and sustain growth by leveraging the Verdane advisory team’s unrivalled technology capabilities and proven track record in driving business value. Verdane funds’ and SPVs’ current portfolio of 40 core companies, includes Boozt, EasyPark, Smava and RoyalDesign. Verdane funds have attracted SEK 12 billion in total commitments from investors. Verdane Advisory Group has 35 employees working out of offices in Copenhagen, Helsinki, London, Oslo and Stockholm. More information can be found at www.verdanecapital.com
Hem is built on the love for pioneering design. A straightforward direct-to-customer model allows Hem to conceive and manufacture trailblazing design of the highest quality and to make it available to an international audience. Hem offers over 400 products available in 34 nations, and the largest markets are the US, followed by Great Britain, Germany and France. Hem is Swedish for ‘home’ and the company was founded in 2014 and is based in Stockholm Working with the most relevant designers of today, including Max Lamb, Luca Nichetto, Pauline Deltour, GamFratesi and Philippe Malouin, Hem manufactures and sells a portfolio of pieces ranging from tables, sofas and carpets to lighting and accessories, to a growing audience of private consumers, Designers, Architects and businesses. www.hem.com