Houzz raises $150 million with $2.3 billion valuation
Houzz is a home-remodelling and design website that has raised $150 million in Series D funding with a post-money valuation of $2.3 billion on a fully-diluted basis, according to VCExperts. In January 2013, Houzz raised $35 million in funding with a $325 million valuation. This means that the value of the company shot up over 7 times the amount in 17 months. According to the financial documentation. this fourth round saw 2,002,039 shares issued the price per share $74.9236. The Series C price per share was $13.3438. It is unknown who the investors are and how the funding will be used.
Some of Houzz’s Series C investors were New Enterprise Associates, GGV Capital, Comcast Ventures, Kleiner Perkins Caufield & Byers and Yammer founder David Sacks. Sequoia Capital participated in an earlier round as well.
Houzz generates income through a home decor marketplace and premium accounts for design professionals. The company went international earlier this year with offices in the U.K., Germany, and Austria.
Houzz hit around 16 million monthly users back in January.