Stepping away from fitness equipment and into home decor, Peloton co-founders John Foley, Hisao Kushi and Yony Feng announced Tuesday that their new direct-to-consumer rug company, Ernesta, raised $25 million in a Series A funding round.
The startup’s focus is on providing custom-cut rugs with various material options at prices on par with standard-sized rugs, per the release. Bespoke delivery will be available in certain markets.
Ernesta’s funding was led by Addition with participation from True Ventures and others. Along with Foley acting as Ernesta CEO, Kushi as chief legal officer and Feng as chief technology officer, five other former Peloton executives have joined the new venture in roles ranging from head of marketing to chief operating officer.
