Funding round
Houzz Series C
Houzz, which works in home improvement platform services in West Hollywood, raised $35M in a Series C round announced on 29 Jan 2013, led by New Enterprise Associates and GGV Capital. 5 firms took part, with 1 individual investor. It is Houzz's second venture round on record; the one before was a Series A in Nov 2010.
$35M
Amount raised
Not disclosed
Post-money valuation
5
Investors
2 leads
Valuation
What this round says about the price
Houzz did not disclose a valuation in this round. It came 26 months after Houzz's Series A. It is 5.8% of the $602M Houzz has raised in the venture rounds on record. Houzz raised again 21 months later: a Series D round of $165M in Oct 2014, at $2.30B post-money.
Houzz's funding rounds
Houzz has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
New Enterprise Associates and GGV Capital led the round with 3 other firms.
Lead investors
- New Enterprise Associates new investor
- GGV Capital new investor
Also in the round
- Sequoia Capital backs 589 venture-backed companies new investor
- Comcast Ventures new investor
- Kleiner Perkins backs 285 venture-backed companies new investor
Individual investors: David O. Sacks.
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations, working capital and geographic expansion.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
- Geographic expansion
Comparable rounds
How it compares
58 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $15M, and this round was 2.3 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 10 Jan 2013 | $25M | not disclosed | True Ventures |
| Tech Companies | 30 Jan 2013 | $11M | not disclosed | WellPoint |
| Tech Companies | 20 Mar 2013 | $23M | not disclosed | T-Venture |
| Bloomreach Tech Companies | 18 Oct 2012 | $25M | not disclosed | New Enterprise Associates |
| Tech Companies | 1 Oct 2012 | $25M | not disclosed | Meritech Capital |
| Tech Companies | 30 Oct 2012 | $23M | not disclosed | New Enterprise Associates |
| Tech Companies | 30 Oct 2012 | $20M | not disclosed | Investor Growth Capital |
| Tech Companies | 18 Apr 2013 | $20M | not disclosed | RockPort Capital |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Houzz raise in its Series C round?
Houzz raised $35M in its Series C round, announced in Jan 2013.
Who led Houzz's Series C round?
New Enterprise Associates and GGV Capital led it, with Sequoia Capital, Comcast Ventures and Kleiner Perkins.
What was Houzz's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Tech Companies?
58 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $15M, and this round was 2.3 times the median.
Did Houzz raise again after this round?
Yes: a Series D round in Oct 2014 of $165M at $2.30B post-money.