Modsy, founded in 2015, is a technology-driven company that originally provided online interior design services. The company developed a unique 3D visualization engine that allows consumers to scan their rooms and collaborate with online interior designers to virtually redesign their spaces. This technology enables users to see their exact rooms, designed in 3D, with furniture from various brands that they can purchase directly.

In 2022, Modsy shifted its focus from offering direct interior design services to concentrating on its core 3D technology. This pivot aimed to enhance the capabilities of their visualization engine and explore new applications within the home design market. On August 30th, 2023, Modsy's remaining team and intellectual property (IP) were acquired by Lennar, a leading homebuilder and long-time investor in Modsy. This acquisition aims to leverage Modsy's advanced 3D technology to innovate further in the home design and construction industry.

Modsy operates in the home design and technology market, serving primarily homeowners and homebuyers who are looking to redesign or furnish their living spaces. The company's business model revolves around its 3D visualization technology, which it monetizes by partnering with furniture brands and homebuilders like Lennar. By integrating its technology with these partners, Modsy generates revenue through service fees and possibly through sales commissions on furniture purchased via its platform.

The acquisition by Lennar allows Modsy to scale its technology and reach a broader audience, enhancing the homebuying and designing experience. This strategic move also positions Modsy to innovate further in the 3D home visualization space, potentially opening new revenue streams and market opportunities.

Keywords: 3D visualization, home design, technology, interior design, Lennar, homebuyers, furniture, virtual redesign, innovation, acquisition.