Houzz Raising Large Round That Values It in Excess of $2 Billion
The company declined to comment on the round — which is odd behavior considering the documents are public — but multiple sources explained that the round is not fully closed and may end up at a higher amount.
Houzz is to be valued in excess of $2 billion in the round, the sources said. The company’s key investors include NEA, GGV Capital and Sequoia Capital.
In a recent interview, Houzz CEO Adi Tatarko described her startup as “five different companies under one roof.” That is, Houzz products combine media, user-contributed content, referrals to professionals, a discussion forum and commerce tied to items tagged in photos — all around the theme of home remodeling and design.
In other fields, such as travel, those five categories might be divided among five separate companies, Tatarko said.
Houzz now has four million professionals and 20 million home owners participating.
The company is especially strong on mobile — it has a five-star average with more than 100,000 reviews in Apple’s App Store. The majority of Houzz usage comes from phones and tablets.