Loveseat operates a local auction marketplace for returned and overstock furniture, selling most items at steep discounts to keep them out of landfills. The company was started by Chris and Jenny Stanchak in 2013 as a vintage furniture business and pivoted in January 2020 to truckloads of returned goods. It runs weekly auctions with items often about 70% off and starting bids as low as $10, and typically sells over 90% of new items listed each week. Customers are highly engaged — Loveseat reports a 55% repeat purchase rate — and the Austin market turned profitable within two months. The founders have expanded operations to Austin while continuing in Los Angeles, San Diego and Orange County. Loveseat plans to grow into more markets nationwide, hire operations/finance/inventory-sourcing leadership, and extend its auction model to electronics and apparel.

Total raised

$7M

Funding rounds

1

Latest round

Series A

Latest activity

Mar 2022