Houzz may be on the cusp of a big remodeling project of its own. The Palo Alto, California-based startup, which provides home owners with tips on remodeling kitchens, baths, decks and more, has reportedly snagged $150 million in fresh funding. VCExperts uncovered the series D round, which reportedly comes in at a jaw-dropping $2.3 billion valuation, according to TechCrunch. The company reported more than 16 million monthly unique visitors in January, with about 35% of that audience coming from outside the US.
Houzz, an online community focusing on architecture and home design, is looking to raise $150 million at more than a $2 billion valuation, according to documents filed in Delaware. Founded in 2008 by Alon Cohen and Adi Tatarko, the Palo Alto-based company registered more than 2 million new shares at a price per share of nearly $75, according to filings uncovered by private company research group VC Experts. On a fully-diluted basis of 31 million shares, the company would be worth about $2.3 billion based on this Series D round of funding. Launched in Feb. 2009, Houzz looks to be the latest startup to reach the vaunted $1 billion-valuation mark, joining the likes of Airbnb, Uber and Snapchat. According to its website, Houzz has 20 million monthly users and addresses a $300 billion home improvement market by providing a platform where consumers can connect to home improvement professionals.
