Resident Acquisition, Valuation, Funding & Investors

Resident was acquired by Ashley HomeStore for $1B in March 2024, a 1.1x multiple on $900M of revenue.

Resident acquisition price

$1B

Acquired by Ashley HomeStore · Mar 2024

Resident revenue at acquisition

$900M

Last twelve months · Mar 2024

Resident revenue multiple at acquisition

1.1x

EV/Revenue · Mar 2024

Cumulative funding Resident raised

$169M

across 4 funding rounds

Resident Overview

About Resident

Resident is a direct-to-consumer platform in the home furnishings sector headquartered in Mountain View, California. Founded in 2016, it owns brands such as Nectar Sleep, DreamCloud, Awara, Wovenly, Bundle, and Level, offering mattresses, bedding, and furniture. The company focuses on online sales of sleep and living space products, serving customers across the United States with subscription-based models and financing options.


Founded

2016

HQ

United StatesSan Francisco, CA

Status

Acquired

Customer focus

B2C

Revenue model

Product sales, Subscription

Revenue

$900M (Mar 2024)

Valuation

$1B (acquired Mar 2024)

Resident Acquisition

Resident was acquired by Ashley HomeStore for $1B on 5 March 2024.

The acquisition price implies a 1.1x revenue multiple on $900M of revenue.

Before the acquisition Resident had raised $169M across 4 funding rounds.

Resident acquisition details
AcquirerDateTypePriceEV/Revenue
  • Ashley HomeStore
5 Mar 2024Strategic M&A$1B1.1x

Resident Funding History

Resident has raised a total of $169M across 4 funding rounds.

Resident's first fundraising round was a $11M Series A in January 2018. The most recent completed round was a $130M Series B in January 2021.

Resident funding rounds

Resident funding rounds
DateStageInvestorsRaisedDeal Summary
Jan 2021Series BION Crossover Partners (lead); Nexus Capital Management (lead); Baron Capital; Phoenix Financial$130M-
Jan 2020Series ALIQUiDITY Group (lead)$13MResident is a direct-to-consumer e-commerce retail tech startup that owns and operates a portfolio of consumer furnishing brands including Nectar, DreamCloud, Level, Awara, Wovenly, Bundle, and 1771 Living. The company began as an online retailer for affordable memory foam mattresses and expanded its direct-to-consumer sales to include rugs, couches, chairs, and bean bags. Operating in San Francisco, New York City, and Tel Aviv, Resident positioned itself as North America’s fastest-growing e-commerce retailer in home products. On January 6, 2020, Liquidity Capital announced a $12.5 million funding agreement with Resident. This non-dilutive, unsecured, non-recourse growth capital enabled Resident to capitalize on its rapid growth without giving up equity. Liquidity Capital's revenue-based financing model supported fast-growing startups, pairing Resident with their investment in Le Tote, a leader in e-commerce fashion retail. Resident planned to use the funds to increase growth into additional home products and scale its business. Co-CEO Ran Reske highlighted the appeal of Liquidity Capital's approach for a fast-growing business, noting the team's entrepreneurial experience.
Dec 2018Undisclosed stage645 Ventures$16M-
Jan 2018Series AData Point Capital; Eastward Capital Partners$11M-

Who has invested in Resident?

8 investors have backed Resident across its funding rounds, including 645 Ventures, Eastward Capital Partners, Phoenix Financial, Data Point Capital, ION Crossover Partners and Baron Capital.

Lead investors include ION Crossover Partners, Nexus Capital Management and LIQUiDITY Group.


Resident Investors

Investors in Resident by funding rounds participated
InvestorHQRoundsRoleFirst check
ION Crossover PartnersIsraelHerzliya1LeadJan 2021
Nexus Capital ManagementUnited StatesLos Angeles, CA1LeadJan 2021
LIQUiDITY GroupUnited StatesNew York City, NY1LeadJan 2020
645 VenturesUnited StatesUnited States1ParticipantDec 2018
Baron CapitalUnited StatesNew York City, NY1ParticipantJan 2021
Data Point CapitalUnited StatesBoston, MA1ParticipantJan 2018

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Resident Competitors

Resident competitors include listed companies like Betterware de Mexico and Moonpig Group, and private ones like NOME, Minted, BeiBei and Cider.

Public and private companies comparable to Resident
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
NOMEChinaGuangzhouPrivate--$1.1B-
Betterware de MexicoMexicoMexicoPublicly listed$829M$152M$595M1.1x
MintedUnited StatesUnited StatesPrivate--$428M-
BeiBeiChinaHangzhouPrivate--$1B-
CiderHong KongHong KongPrivate--$1B-
Moonpig GroupUnited KingdomUnited KingdomPublicly listed$501M$140M$1B2.3x

Resident Public Comps

Resident is no longer listed, but its public comps include Moonpig Group, Hepsiburada, Suofeiya, Arhaus, DeRUCCI, Brainbees Solutions, Boozt, GoodRx, Bxn Holding and CEWE Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Moonpig Group$501M$140M2.3x2.3x8.2x8.2x
Hepsiburada$1.7B($51M)0.5x0.3x(15.8x)28.7x
Suofeiya$1.4B$250M0.9x1.0x4.9x5.7x
Arhaus$1.4B$179M1.1x1.0x8.2x9.2x
DeRUCCI$779M$131M1.2x1.1x6.9x6.9x
Brainbees Solutions$866M$29M1.1x1.0x31.8x23.1x
Boozt$845M$71M1.1x1.0x13.0x10.3x
GoodRx$797M$173M1.8x1.8x8.1x5.5x

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Common questions about Resident

When was Resident founded?Resident was founded in 2016.
Where is Resident headquartered?Resident is headquartered in San Francisco, CA, United States.
Is Resident publicly listed?No, Resident was acquired by Ashley HomeStore in March 2024.
Who acquired Resident?Resident was acquired by Ashley HomeStore in March 2024.
How much was Resident acquired for?Resident was acquired for $1B in March 2024, a 1.1x revenue multiple.
How much funding has Resident raised?Resident has raised $169M across 4 funding rounds.
What was Resident's last funding round?Resident's last funding round was a $130M Series B in January 2021, led by ION Crossover Partners and Nexus Capital Management.
Who are Resident's investors?Resident's investors include ION Crossover Partners, Nexus Capital Management, LIQUiDITY Group, 645 Ventures, Baron Capital, Data Point Capital, Eastward Capital Partners and Phoenix Financial.
Which companies are comparable to Resident?Companies comparable to Resident include NOME, Betterware de Mexico, Minted, BeiBei, Cider and Moonpig Group.

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