Home remodeling is big business, as the recent Pro.com and Porch.com fundings have shown us.
Today, home inspiration site Houzz announced that it has raised a massive $165 million in new funding as it continues to expand, valuing the company at $2.3 billion, according to the Wall Street Journal. The company is also launching a beta version of an online store, Houzz Marketplace.
Houzz is a site where homeowners can browse for home remodeling and decor inspiration, and connect with other enthusiasts, designers, and remodeling professionals to get their projects done. The site has more than 25 million monthly unique users, according to the company.
The new marketplace will enable Houzz users to purchase some of the products they need to complete their projects. The marketplace already has more than one million products, the company says.
Sequoia Capital led this round, with additional participation from existing investors Oren Zeev, New Enterprise Associates (NEA), GGV Capital and Kleiner Perkins Caufield & Byers (KPCB), as well as new investors DST Global and T. Rowe Price. The company previously raised $48 million in funding.