Houzz raising $400 million at $4 billion valuation

 

Home improvement platform Houzz continues to grow and is in the process of raising another huge round of funding. The company confirms that it is raising $400 million in new financing, at a valuation that multiple reports peg at around $4 billion.

Founded in 2009, Houzz provides a platform to help users renovate and remodel their homes, as well as providing tools for finding furniture and fixtures they might want to purchase. The company has users all over the world, in markets that include the U.S., U.K., Australia, France, Germany, Russia, Japan, Italy, Spain, Sweden, and Denmark.

It makes money mostly through paid listings for local home professionals and service providers, but has been delving more deeply into direct commerce through the introduction of deep learning and AR products it’s added to its website and mobile apps.houzz

Last fall it introduced a deep learning tool that analyzes home photos added to the site and enables users to search for and purchase comparable products directly from the page. It also added an AR feature to its mobile app that enables users to preview what new pieces of furniture might look like in a certain place in their home.

The newest funding round, which Recode reported is being led by Iconiq, comes on top of more than $200 million that Houzz had raised from investors that include Sequoia, New Enterprise Associates, GGV Capital and others.

Source: Houzz raising $400 million at $4 billion valuation

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About Stephen G. Barr, Group Publisher

Author, Syndicated Columnist, Editor In-Chief and Group Publisher at SGB Media Group, a social media marketing firm specializing in digital media content production, publishing, affiliate marketing, public relations and advertising. Over 25 years experience in retailing, advertising, website & online forum development, niche social networking, affiliate marketing, search optimization, branding and identity, site location, non-profit fund raising. Event planning, promotion, production and MC/Host at public events. Author, Editor & Publisher of 35 syndicated, digital publications utilizing multiple digital distribution channels in conjunction with launching and administrating national advertising campaigns for major Fortune 500 advertisers in partnership with Google, Ning, Facebook, Myspace, Yahoo, DoubleClick, LinkShare, PepperJam and other industry leading third party affiliate networks. Product development team member from conception to launch on many websites, tangible goods and organizational structure for start ups. Specialties: Public relations, retailing, advertising, website & online forum development, niche social networking, blogging, email campaigns, affiliate/performance marketing, search optimization, branding and identity, site location, event production & promotion, non-profit fund raising and tasteful, responsible adult content publishing. An internationally recognized and read social media columnist & pundit on The Examiner, Associate Content, Vator.tv, X-Biz.net and Technorati and his own affiliated sites.
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