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.

Most Popular Articles

Here are the mortgage lenders that borrowers like the most

J.D. Power’s 2019 U.S. Primary Mortgage Origination Satisfaction Study, released Thursday morning, showed that there are some lenders that customers seem to love working with more than others. Here are the ones that borrowers are partial to.

Nov 14, 2019 By

Latest Articles

Congressional vote on “de facto QM Patch” postponed

The House Financial Services Committee postponed a vote on H.R. 2445 on Wednesday, a bill that would fix the so-called QM Patch that’s set to expire in early 2021.

Nov 15, 2019 By