Home Decorating Site Houzz Is Raising $US150 Million In Funding At A $US2.3 Billion Valuation

Houzz, a home-remodeling site, filed papers that show that it’s trying to raise a Series D round of $US150 million. That would bring the startup’s valuation to $US2.3 billion.

The company, which is based in Palo Alto, registered more than 2 million new shares. The price per share is nearly $US75, according to filings that were uncovered by research group VCExperts, and passed to Ingrid Lunden at TechCrunch.

Houzz is like Pinterest for people interested in home design. It’s part marketplace, part social network, where users can share tips and photos of home improvement projects.

Houzz has around 16 million monthly users, which is not a huge number. But as The Wall Street Journal points out, the people who visit Houzz are potentially very lucrative, “with 90% owning a home, 74% planning to decorate their homes in the next two years and 9% building a new house, according to the company’s website.”

In its last round of funding in January 2013, it raised $US35 million. Investors in that round were Comcast Ventures, Kleiner Perkins Caufield & Byers, David Sacks, Sequoia Capital, GGV Capital, New Enterprise Associates, and Paul Hsiao.

You can read the entire filings document on TechCrunch.

We’ve reached out to Houzz and will update this story if we hear back.

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