Silicon Valley gets its Houzz in order

Palo Alto, California-based Houzz says it closed a $400 million Series E financing deal. In Silicon Valley talk, that means it has been handed a fifth round of investment money. The digital home remodeling and design network says it will use the investment to accelerate growth and build its technology offering.

“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,” said Adi Tatarko, Houzz CEO and cofounder. “We look forward to further expanding our community and our offering around the globe with support from great new partners and existing investors.”

The new round of funding is being led by Iconiq Capital, and also includes new investors Wellington Management Company. Seequoia, Zeev Ventures and GGV Capital, previous investors, also chipped in.

More than 9 million products are available for purchase on Houzz from more than 20,000 sellers. In 2016, the Houzz increased its employee count by more than 50%, and has more than 1,400 employees in 11 offices.

Since July of 2014, Houzz has launched localized platforms in 14 countries outside of the U.S.;

Will Griffith, of Iconiq Capital, sang the virtues of Houzz’s community and technology. “We are thrilled to join the Houzz family and help the company transform how people around the world design, collaborate, renovate and shop for their homes.”