Houzz raises $400M - Mobile World Live

Houzz raises $400M

26 JUN 2017

Houzz, maker of an app and website for home remodeling and design, closed a $400 million funding round to accelerate growth and further build its technology platform.

According to Bloomberg, the firm is now valued at $4 billion.

Houzz told Mobile World Live it has more than 40 million monthly unique users, with over half of engagement taking place on mobile.

In a statement, Adi Tatarko, CEO and cofounder, said: “We look forward to further expanding our community and our offering around the globe with support from great new partners and existing investors.”

In January, Houzz launched a localised platform in India, its fourteenth market outside of the US.

Last month, it introduced an augmented reality feature to its app called View in My Room 3D, which enables people to see products in 3D within their homes. Shoppers that use this tool are 11 times more likely to go ahead with a purchase, the firm said.

There are some 9 million products available for purchase via the Houzz platform.

The round was led by Iconiq Capital with participation from Wellington Management Company, Sequoia, Zeev Ventures and GGV Capital.

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Saleha Riaz

Saleha joined Mobile World Live in October 2014 as a reporter and works across all e-newsletters - creating content, writing blogs and reports as well as conducting feature interviews...More

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