Floored Inc has picked up $5.3 million in a Series A funding round led by RRE Ventures. The company will use the new funding to develop its 3D modeling technology for real estate professionals, wrote The Wall Street Journal.
In January, the New York firm announced closing $1 million in its seed funding round. Greycroft Partners, Felicis Ventures, Lerer Ventures, and Two Sigma Ventures also participated in the latest round, the report detailed.
Clients use Floored's app to show a "virtual reality" of a certain property. The model would show what a property could look like upon completion. Virtual people and furniture can be added to rooms and the clients can also test out various lighting schemes. The app allows the users to change the look and feel of materials in walls and flooring, and move virtual walls or other structures around a space, the report explained.
According to Chief Executive Officer David Eisenberg, the company will use much of the new capital to hire more engineers and technical staff with expertise in 3D visualization. At present, the firm employs 13 full-time and 11 contract workers. Floored hopes to expand into a 50-people team by the end of next year, The Wall Street Journal reported.
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