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.
As reported in NoCamels:
The company has so far raised a total of $614 million and has doubled its valuation within less than two years.
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.
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.
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.