Houzz allegedly raising up to $500 million
Looks to value company at more than $5 billion
Houzz, an online platform for home remodeling and design services, is allegedly raising a new round of venture funding which would value the company at more than $5 billion, according to an article by Erin Griffith and Leena Rao for Fortune.
While the talks are still early, the article states the company could be looking at raising as much as $500 million, sources close to the situation allegedly confirmed. However, when asked to comment, a Houzz spokesperson said simply, “It’s not true.”
From the article:
Founded in 2009 by Adi Tatarko and Alon Cohen, Houzz has raised $213 million in funding to date. The Palo Alto-based company’s latest round, a $165 million Series D in late 2014 led by Sequoia Capital, valued it at $2.3 billion.
Click here to read more about Houzz, and why Fortune says this deal may be the beginning of the divergence of the billion-dollar startup club.
When faced with the options of raising more money or going public, Houzz chose the former, the article states.