Hardware company Hearth Display has recently announced that it has raised an additional $4.7 million in funding. The funding round, which is a bridge round, includes a mix of existing and new investors, such as Female Founders Fund, Stellation Capital, Sweater Ventures, Behind Genius Ventures, an SPV led by Golden Hour Ventures and Dream Ventures, and Ingeborg Investments. With this round of funding, Hearth Display has now raised a total of $7.7 million.
Key Takeaway
Hearth Display raises $4.7 million in funding for its innovative digital whiteboards designed to enhance family task management. The funds will accelerate product shipping and support the company’s vision of developing predictive workflow features for families. With over 3,000 pre-orders already secured, Hearth Display aims to further expand its reach and revolutionize household organization and routines.
Expanding the Vision
Co-founders Mei Lin Ng, Susie Harrison, and Nathalie Stratton explained that the new funding has also increased the company’s valuation by 60%, although they did not disclose the exact valuation amount. The founders sought to work with investors who understand the challenges of an early-stage startup and can fully support the company’s goals of initial activation metrics, rather than focusing solely on scaling for a Series A round.
Revolutionizing Family Task Management
Hearth Display offers a 27-inch digital whiteboard designed to help families manage their tasks efficiently. With this innovative product, parents can add tasks through email or a text-based assistant and assign chores to their children. In addition to the hardware, Hearth Display offers a subscription plan priced at $9 per month, giving users access to features such as to-dos and kids’ routines.
Shipping Expansion and Future Plans
In the previous year, Hearth Display ran a successful Indiegogo campaign, selling the product to early customers for $499. The founders revealed that over 1,000 customers participated in the campaign, and the company has successfully fulfilled all those orders. The latest funding round will enable Hearth Display to expedite the shipping process. Since May, the startup has been accepting pre-orders on its website for $599 per unit, with over 3,000 customers already secured. The company aims to complete these orders by the end of the year.
Currently, the product is in use in over 1,200 households, with more than 3,500 people actively utilizing it. Hearth Display plans to open up orders again in December to meet the demand generated by the pre-sales. As the company scales, it also intends to diversify its supply chain, which is currently reliant on Asian manufacturing.
