Houzz, a US-based home design and remodelling platform backed by investors including cable and telecommunications service provider Comcast, closed a $165m series D round yesterday.
Sequoia Capital led the round, which also included New Enterprise Associates, GGV Capital, Kleiner Perkins Caufield & Byers, DST Global, T. Rowe Price and Oren Zeev. Houzz has now raised almost $214m in equity funding.
Comcast invested in Houzz’s $35m series C round in January 2013 through its Comcast Ventures fund. Earlier reports suggested it was also set to participate in the latest round, which reportedly values Houzz at $2.3bn, but Houzz did not list the corporate among its most recent investors.
The cash will be used to fund international growth for Houzz, which now has 25 million unique users a month, and to enhance its technology and product offering. It recently entered the Australian market and plans to expand into France and Germany by the end of the year.
The funding was announced at the same time as the beta launch of the Houzz Marketplace, which will connect buyers and sellers of home improvement products.
Adi Tatarko, chief executive of Houzz, said: “We now have a tremendous opportunity to meet the enormous demand for our platform and make Houzz synonymous with the home on a global scale.”
– Photo courtesy of Houzz