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Ecommerce furniture retailer Cymax has raised $25m (£16m) from investors, its first external funding round in the 11 years since the business was founded in 2004.


The Canada based company—which generates most of its circa $140m (£90m) annual revenues in the US—has doubled in size over the past five years and wants to expand its web offering and invest in new technology.


Its funding round was led by PlentyOfFish Media Inc. founder Markus Frind, Salman Partners and BDC Capital.


The Burnaby, British Columbia company operates across multiple furniture and decor categories, operates a drop-ship model with product delivered direct by suppliers, and has been growing at about 30–40 per cent a year since its incorporation a decade ago.


* British ecommerce retailer Furniture Choice, based in Mirfield, Yorkshire, has relaunched its website at www.furniturechoice.co.uk. The firm, celebrating its tenth year in business this year, says annual sales have grown to around £10m this year.