Houzz raises $400 million, doubling valuation to $4.3 billion

Houzz, which provides a home remodeling and design service, just closed a $400 million round led by Iconiq Capital, according to a report published today by The Wall Street Journal. Previous investors Sequoia Capital and GGV Capital also participated. Equidate, a stock market for private companies, estimates Houzz to be valued at $4.3 billion.

The Palo Alto, California-based company was founded in 2009 by CEO Adi Tatarko and president Alon Cohen. According to the report, Houzz has 40 million monthly users and more than 1.5 million home professionals listed on its website.

Houzz has previously raised $213 million in funding from investors that include New Enterprise Associates (NEA) and Kleiner Perkins Caufield & Byers (KPCB).

The company did not immediately respond to a request for comment.

 

Update on June 26, 2017: Houzz sent an official press release confirming the raise of $400 million, adding that new investor Wellington Management Company and existing investor Zeev Ventures also participated in this round.