Houzz Raises $35 Million In Series C
Houzz is a startup company that focuses on the home remodeling business. Houzz provides homeowners ideas for projects and connects them to designers, contractors, and architects. Houzz has raised $35 million in a Series C round of funding led by New Enterprise Associates and GGV Capital. Sequoia Capital, Comcast Ventures, Kleiner Perkins, and David Sacks (Yammer founder) participated in this round also.
Houzz has grown 450% in the last year and they are hitting around 12 million unique visitors per month. Houzz will be using the funding to expand their design and engineering team. The company will not be expanding beyond their niche in the remodeling industry though since Houzz founder Adi Tatarko believes that it is an underserved market.
“I found Houzz as I was remodeling my own home,” stated Sacks. “They’ve built an amazing product and technology platform that I love using. The company has solidified itself as the leading player and chief disruptor 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.”
Houzz recently announced a new feature called Houzz Pro+. Houzz Pro+ is for professionals that want to discuss ideas and find new clients. There are around 160,000 professionals that are on Houzz and the listings will remain free. But the Houzz Pro+ platform will allow users to highlight their profiles for an annual fee. The Pro+ service is currently available in certain metro areas, but it will be expanded to all of the U.S. soon.