Bringing Down The Houzz: Israeli Home Design Startup Raises $400M At $4B Valuation
By Einat Paz-Frankel, NoCamels
Israeli home design startup Houzz has raised a whopping $400 million from ICONIQ Capital, a closely held Silicon Valley investment firm, at a valuation of $4 billion, according to media reports.
The company has so far raised a total of $614 million and has doubled its valuation within less than two years.
A spokeswoman for Houzz declined to comment.
Now boasting a community of over 40 million unique visitors every month, the startup was founded in 2009 by Israeli designer couple Adi Tatarko and Alon Cohen, after they had been stuck in the process of trying to renovate their home. Today, Houzz is considered the world’s leading online home design platform.
Featuring a website and a mobile app, Houzz is a Pinterest-style platform dedicated to home decor, allowing users to browse through a vast collection of interior design photos and click on items they want to purchase. Houzz also gives users access to ideas and advice from design professionals online.
View the product in your room before buying it
Last month, the company added a 3D augmented reality feature to its app, allowing iPhone and iPad users to view hundreds of thousands of products and see what these would look like in their own homes before buying them.
“We’re focused on building technologies that can be used today, by the broadest number of people, to make the home improvement and home design experience more fun and productive,” Cohen said in a statement. “We have built an enormous product catalog that continues to grow daily, and integrated augmented reality into the Houzz browsing experience, making it fast and easy for people to virtually experience products in their own homes, and instantly buy them on the Houzz app.”
As the Houzz community grows – from 25 million just two years ago, to 40 million today – so does the company. The platform claims to boast the largest residential design database in the world, offering users access to home design images, products and professional advice. The Palo Alto-based company has expanded over the years and now operates offices in Tel Aviv, Israel; London; Berlin; Sydney, Moscow; and Tokyo.
So, whether you’re remodeling your house or designing the future home of your dreams, Houzz can provide you with seemingly infinite designs.
Photos and video: Courtesy
On – 12 Jun, 2017 By Einat Paz-Frankel