Framebridge, the custom framing technology company, has raised $7.7 million from existing investors New Enterprise Associates, Revolution Ventures and former LivingSocial CEO Tim O’Shaughnessy.
It’s the second venture capital raise for the 10-month old startup.
Founded by LivingSocial and Revolution Health alum Susan Tynan, the company aims to take the expense and headache out of the typical framing process, which has long been dominated by local shops and arts and crafts stores like Michaels.
It’s a classic case of a dormant market that’s yet to be shaken up by the Internet — Tynan called it “one of the last bastions of business that hasn’t been brought online.”
As Revolution Ventures partner Tige Savage told me, the custom framing business has always maintained “absurdly high margins,” mainly by bundling the sale of a product — in this case, the frame — with the service of actually assembling that frame around an object.