Houzz, an online marketplace for home furnishings, has raised $400 million in a funding round that will, in part, fuel the company’s international growth.
Iconiq Capital led the round; Iconiq also participated in social media marketing vendor Sprinklr’s $46 million funding round in March 2015.
This is the second time in the past three years Houzz has raised a nine-figure funding round, and it is on the heels of a $165 million round in October 2014, which Sequoia Capital led. According to CrunchBase, this latest round brings the total raised by Houzz to $613.6 million across five rounds since launching in 2009.
Houzz, which says it has “over nine million products available for purchase from more than 20,000 sellers” on its online marketplace, is targeting an international audience with its latest round of funding because that’s where it is generating a significant amount of new interest. The home design services and shopping site, in announcing the financing, says more than half of its new users live abroad.
“Our focus on providing the best technology and user experience for home renovation and design enabled us to turn a side project into a global company and to determine, at each stage of our growth, the best path forward for Houzz,” CEO and co-founder Adi Tatarko said.