NEW YORK — March 11, 2026 — Ernesta, which has quickly emerged as the largest
custom-sized rug retailer in the United States, today announced it has raised $20 million in
Series B financing led by Addition, with participation from existing investors True Ventures
and Platform Capital Management.

The new capital will support Ernesta’s continued expansion as it builds the leading brand in the
U.S. rug market through a growing omni-channel platform for both interior designers and
homeowners that combines digital tools with experiential showrooms.

As part of its retail strategy, Ernesta plans to scale to 30 showroom locations nationwide by
the end of 2027, building on the strong performance of its existing stores in key design markets.
The new investment will also help Ernesta further develop its technology platforms, including
enhancements to its Trade Portal, improvements to manufacturing and fabrication
technology, and streamlined tools for ordering samples and managing custom projects.

Ernesta offers custom-sized rugs, including stair runners, cut precisely to fit any space,
with curated styles and materials, transparent pricing, and delivery in as little as two weeks.

“Rugs are one of the most important design elements in the home, yet the category has
historically been fragmented, opaque, and difficult for customers to navigate,” said John Foley,
Founder and CEO of Ernesta. “We are building Ernesta to change that, with designer-quality
custom-sized rugs, curated design and an experience that feels modern and empowering. Our
continued 100% year-on-year growth speaks to how much interior designers and ambitious
homeowners are appreciating the Ernesta approach.”

To support this next phase of growth, Ernesta has also announced two key leadership updates.
Alan Smith, previously Chief Marketing Officer, has been promoted to President, reflecting his
central role in scaling the company’s brand, growth strategy, and go-to-market organization. The
company has also appointed Alexandria Norton as Chief Financial Officer, bringing deep
financial leadership experience as Ernesta enters its next phase of growth.

“Ernesta is building a truly differentiated brand in a massive category that has lacked a modern
consumer leader,” said Lee Fixel of Addition. “The team has combined strong product
curation, a compelling retail experience, and proprietary technology to simplify the custom rug
market. We’re excited to continue supporting their growth.”

Despite 100 million rugs sold annually, the U.S. rug market remains highly fragmented. Ernesta
is positioned to capture this white space by becoming the first dominant, tech-enabled brand in
the category.

“With Ernesta, we saw an opportunity to build the strongest brand in a category where design
matters deeply to Trade and consumers,” said Jon Callaghan, Co-founder and Managing
Partner at True Ventures. “The company is creating a modern platform that brings together
retail, technology, and supply chain innovation in a way that has not existed before.”

About Ernesta
Founded in 2022, Ernesta is a New York-based custom-sized rug company focused on making
it easy for interior designers and homeowners to find the perfect rug for any space. Ernesta
offers designer-quality, custom-sized rugs, curated design selections, transparent pricing, and
fast delivery through a growing omni-channel platform that includes e-commerce, trade tools,
and experiential retail showrooms. Already the largest retailer of custom-sized rugs in the US,
the company’s mission is to build the leading rug brand in the broader rug category.

Press Inquiries
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ernesta@tcpr.co

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