Home renovation and design platform Houzz has raised $400 million in their funding round, taking the valuation of the company to $4 billion.
The company, one of the highest-valued consumer startups, was founded in 2009 in California by a couple looking to renovate their home. Since then, it has launched in 14 countries outside the US and the Houzz marketplace has more than 9 million products from more than 20,000 sellers.
Last month, the site released a new augmented reality feature for their iPhone and iPad app that allows you to test out any of the 300,000 furniture pieces within the context of your own room. The company has also launched the Houzz Trade Program to provide industry professionals with ways to profit, such as purchasing and recommending products in the Houzz Marketplace.
Houzz has managed to attract a hefty valuation in the face of companies like Pinterest, which is valued at more than $12 billion and has 175 million active monthly users. But Houzz’s specialised niche shows it has tapped into a demand for that type of content, whether users are browsing wistfully or actually buying home decor items through the site.