Houzz, the online platform for home remodeling and design, announced the close of a $35 million Series C financing deal led by global venture capital firms New Enterprise Associates (NEA) and GGV Capital, yesterday.
The investment will be used to further build Houzz’s engineering and design team at the company’s Palo Alto headquarters. The company also announced the launch of Houzz Pro+, a premium marketing program for professionals, which has already sold out in several major markets.
Over the past 12 months, Houzz has grown more than 450% to 12 million monthly unique users. Homeowners use Houzz to find inspiration, collaborate, research and hire professionals, source products, and manage projects from start to finish.
“Houzz is revolutionizing home renovation,” said Houzz CEO Adi Tatarko. “Our goal is to eliminate the barriers that exist between homeowners and good design, and between talented home improvement professionals and their potential customers. This has been our vision from day one and we are focused on continuing to make that happen by applying the best technology, product and user experience know-how.”
“I found Houzz as I was remodeling my own home,” said David Sacks, Yammer founder and investor. “They’ve built an amazing product and technology platform that I love using. The company has solidified itself as the leading player and chief disrupter in the $300 billion home remodeling and design industry. I’m delighted to join an amazing group of investors like Alfred Lin, Oren Zeev, Hany Nada, Paul Hsiao and Mary Meeker.”
The company’s Series A financing was led by Zeev, followed by a Series B led by Sequoia Capital. Sequoia Capital, Comcast Ventures, Kleiner Perkins Caufield & Byers and Sacks participated in the Series C deal.