San Francisco-based online interior design services startup Modsy has shut down and laid off all of its employees.
According to the reports, while the company’s website remains operational, its Twitter and Facebook pages have been deleted, and its Instagram account has been made private.
However, the startup claims to have returned some service order charges and promised to refund furniture deliveries to those who filled an online form.
Modsy’s Founder and CEO Shanna Tellerman said, “capital constraints and uncertain market conditions forced the company to cease operations on July 6 and lay off all employees”.
Modsy was founded in 2015, but all of a sudden it came to an end. The company got its last funding in May 2019, which escalated its total valuation to $72.7 million.
The investors in Modsy included TCV, Comcast Ventures, Norwest Venture Partners, and NBC Universal.
