Kujiale, a China-based online interior design platform backed by media group Hearst, has attracted about $100m in a series D-plus round led by investment firm Hillhouse Capital, DealStreetAsia reported today.
The round included contributions from venture capital firms Shunwei Capital and GGV Capital, and valued Kujiale at more than $1bn.
Founded in 2011 and also known as Coohom, Kujiale has created an online platform it claims has 25 million registered users that connects homeowners and corporate clients looking to professionally redecorate their properties with a network of some 8 million interior designers.
Designers can use the platform to build 3D virtual blueprints of the proposed plans for each commission, giving the client a 360-degree preview before making a commitment. The capital will fund research and development as Kujiale seeks to refine its digital services for corporate customers.
Shunwei Capital led Kujiale’s last round, a $100m series D that closed at a $600m post-money valuation in March 2018.
Hearst’s corporate venturing subsidiary, Hearst Ventures, also participated in the round, along with GGV Capital, Pavilion Capital, Yunqi Partners, IDG Capital and Linear Venture.
The company had previously received $10m in a GGV-led series B round in 2015 that also featured Hearst Ventures, Matrix Partners and Yunqi Partners, following $1.6m in series A financing from IDG Capital.