From the Wires
Houzz Raises $35M in Series C Financing, Launches Local Marketing Program for Remodeling and Design Professionals
By: Business Wire
Jan. 29, 2013 07:30 AM
Houzz, the world’s leading platform for home remodeling and design, today announced the close of a $35 million Series C financing led by global venture capital firms New Enterprise Associates (NEA) and GGV Capital, with participation from Sequoia Capital, Comcast Ventures, Kleiner Perkins Caufield & Byers (KPCB) and Yammer founder David Sacks. The investment will be used to further build Houzz’s world-class engineering and design team at the company’s Palo Alto headquarters. The company also announced the launch of Houzz Pro+, a premium marketing program for professionals, which has already sold out in several major markets.
Over the past 12 months, Houzz has grown more than 450 percent to 12 million monthly unique users, making it the number one online and mobile resource for remodeling and design. Homeowners use Houzz to find inspiration, collaborate, research and hire professionals, source products, and manage projects from start to finish. More than 160,000 home professionals now rely on Houzz as a critical business tool to interact with 12 million people looking to remodel or decorate, compared with 10,000 professionals two years ago. Houzz is helping home professionals by applying technology to build their brands, connect with homeowners, and move project management to the cloud. Watch a video of Houzz professionals talking about their experiences here: (http://info.houzz.com/prostories.html).
“Houzz is revolutionizing home renovation,” said Houzz CEO Adi Tatarko. “Our goal is to eliminate the barriers that exist between homeowners and good design, and between talented home improvement professionals and their potential customers. This has been our vision from day one and we are focused on continuing to make that happen by applying the best technology, product and user experience know-how.”
“I found Houzz as I was remodeling my own home,” said David Sacks, Yammer founder. “They’ve built an amazing product and technology platform that I love using. The company has solidified itself as the leading player and chief disrupter in the $300 billion home remodeling and design industry. I’m delighted to join an amazing group of investors like Alfred Lin, Oren Zeev, Hany Nada, Paul Hsiao and Mary Meeker.”
The company’s Series A financing was led by Oren Zeev, followed by a Series B led by Sequoia Capital.
Houzz is the leading online platform for home remodeling and design, providing people with everything they need to improve their homes from start to finish - online or from a mobile device. From decorating a room to building a custom home, Houzz connects millions of homeowners, home design enthusiasts and home improvement professionals across the country and around the world. With the largest residential design database in the world and a vibrant community powered by social tools, Houzz is the easiest way for people to get the design inspiration, project advice, product information and professional reviews they need to help turn ideas into reality. For more information, visit www.houzz.com
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