Startup Spotlight #130: Conjure
Startup Spotlight #130: Conjure
Conjure's curated furniture rentals makes it easy and affordable to build a home that evolves with you.
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I got the chance to speak with Daniel Ramírez-Yunqué, founder and CEO of Conjure, about what he’s working on at his startup, and any advice he has for emerging entrepreneurs.
Conjure is an online furniture rental company that serves as an alternative to furniture ownership, allowing consumers to design and furnish their homes in a few clicks for a reasonable monthly rate. Leases are flexible from 3-12 months for as little as $69 per month.
Conjure was created to ease the burden of dragging furniture from apartment to apartment while also giving customers access to designer-curated collections at an affordable price and on a flexible schedule. Conjure allows homes to evolve as frequently as their occupant’s tastes, needs, and preferences shift. With 9.8 million tons of furniture ending up in landfills every year, the environmental burden, high costs of storing furniture, and the landscape of millennial migration, Conjure is setting out to solve a huge problem.
Born and raised in Puerto Rico, Ramírez-Yunqué started his career working in private equity on the island before moving to New York, where he focused on investing and building companies in the consumer and financial services spaces.
He was far from home, working long hours at a finance job and exhausted by endless apartment issues and the chaos of moving in Manhattan when he decided he had to create a solution. Ramírez-Yunqué joined the inaugural cohort of the Harvard Innovation Labs Launch Lab X Alumni Accelerator, where he worked to create a furniture rental platform that integrates access to quality design and ownership flexibility. He and his team officially launched Conjure with $9 million in seed funding in September of 2020. Ramírez-Yunqué brings his many years of experience in the financial sector to serve as CEO of Conjure, overseeing consumer experience and growing the brand’s business. He holds an undergraduate business degree from Boston University and graduated with an M.B.A with distinction from Harvard Business School. He is also a CFA Charterholder and a Tiogo Fellow.
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Startup Spotlight: Conjure
Problem: Conjure was created to ease the burden of dragging furniture from apartment to apartment while also giving customers access to designer-curated collections at an affordable price and on a flexible schedule.
Market: Conjure targets the $120 billion furniture market by changing the way consumers think about furniture ownership and access to home style.
Solution: Conjure is an online furniture rental company that serves as an alternative to furniture ownership, allowing consumers to design and furnish their homes in a few clicks for a reasonable monthly rate.
Team: Our senior team is made up of Lauren Evans as Head of Growth, Eugene Kagan as head of Engineering, and Ketan Mehta as Head of Operations.
Recent Success:
Ramírez-Yunqué: As a company one thing we have been successful at is evolution. We like to say internally that if you are not embarrassed by something you created/did 3 months ago you are not moving fast enough. We apply this to our product, our operations, our marketing, everything. As a company, we believe everything is on the table with respect to change and nothing is sacred. Our latest evolution has been our rebranding and new product launch. Even that we are now changing and improving. There is always room for growth. You just have to open your eyes and take off those damn rose-colored glasses. It’s better to see your product for what it is vs what you think it is. That way you can improve it and your company will be all the better for it.
Recent Struggle:
Ramírez-Yunqué: It’s no surprise that covid-19 has presented its fair set of challenges over the last 12 months. I would say the biggest struggle we have had is building our team and culture in a remote environment. About 80% of our team was hired over zoom, which was not a thing that I would have ever anticipated. We worked to adapt like everyone did and developed norms and have done our best to improve communication and make sure everyone feels in the loop. I would be lying if I said everything went perfectly. Having said that, I am proud of the bonds we have formed as a team and how much we grew. It was not easy at all.
Founder Advice:
Ramírez-Yunqué: As a founder, you work a lot. I would say grinding day in and day out is more the norm than the exception. And that is ok when you are starting and doing a lot of solo work. As you start building a team how you feel and the energy you give off as a founder matters a lot. It affects how team meetings feel, how people speak and share ideas and broader company collaboration. If you are burnt out you will not only feel it, but your team will as well. That’s why you gotta make sure you always take care of yourself and are at 100%. You have to realize that your state affects everyone else's state, which affects your product, your customers, your investors, etc. Many times we neglect to take care of ourselves in pursuit of our goals. We have to realize that being in peak condition is the best way to grow and build something truly transformative.
Three Cool Founders You Should Know About:
Ramírez-Yunqué: Here are three founders you should check out next!
Khaled Kteily, Founder of Legacy: Legacy convenient at-home male fertility solution.
Michael Sheely, Founder of Nurse 1-1: Nurse 1-1 provides convenient access to nurse practitioners to help answer your healthcare questions and needs.
Sean Eldridge, Founder of Gainlife: Gainlife helps injured employees return to work faster.
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