The team that launched fitness phenomenon Peloton is launching a direct-to-consumer custom rug company— Ernesta—in spring 2023. Peloton co-founders John Foley, Hisao Kushi and Yony Feng have raised $25 million in a Series A funding round, led by Addition with participation from True Ventures, along with other investors.
"I've always had a passion for design, and when I noticed how confusing and overwhelming the process can be for consumers who want great style at an accessible price point, particularly in the rug category, I saw a white space in the market," said Enesta CEO John Foley.
With the current market fragmented across specialty retailers, mass retailers, designers and distributors, Ernesta plans to expand the custom category of the multibillion-dollar domestic rug market by offering residential and commercial buyers the option to purchase from a thoughtfully curated selection of rugs cut to fit their exact space. Consumers will enjoy a quick fulfillment experience through an on-demand manufacturing process.
Once live, the site plans to offer a wide variety of materials and options for custom rugs at an accessible price range, as well as bespoke delivery in certain key markets.
"With Ernesta, our goal is to bring high-quality, custom rugs to a wide audience through a community-driven, curated and personal buying experience," Foley said.
The founders of Ernesta have decades of experience working in the consumer tech space. In addition to Peloton, Foley has launched or led several other companies over the course of his career, including Proust.com, Pronto.com and Evite.com, three IAC-backed businesses. Additionally, Foley served as president of e-commerce at Barnes & Noble, and held leadership positions at companies such as Mars and Citysearch earlier in his career. Kushi also spent many years at IAC, as chief Operating Officer of Evite.com, as well as vice president and general counsel of several IAC brands, including Gifts.com, Evite.com, Pronto and Citysearch. And Feng, prior to Peloton, held technology roles at such companies as Ticketfly.com, Skype and Cisco Systems.
To learn more, visit ernesta.com.
