oHouse, a platform enabling users to source and purchase home improvement goods, today announced raising a $182 million Series D, according to a press release.
The company says the funding included a number of prominent global investors, including SoftBank Ventures Asia, BRV Capital Management, Vertex Growth, BOND, Korea Development Bank, IMM Investment and Mirae Asset Capital.
It says the funding will be used to build outs its marketing, sales and product teams in key markets around the world, which it says will include appointing a head of US expansion and will drive the firm deeper into its “lifestyle segment.”
“Eight years ago, oHouse was simply a community of people sharing interior design content with one another. Today, we’ve grown into a global platform that brings users together to inspire one another to transform their lives,” stated Seungjae Lee, founder and CEO of oHouse, in the release.
“We’re creating solutions that can help our global user base with every design and style related challenge that they’re facing, whether it be remodeling a bathroom, planning a dinner party or setting-up a home theater system,” Lee said.
By providing furniture and other home goods for consumers, the company says it is powering innovation in the global interior design market. It said that it also has expanded its suite to now provide home services including home remodeling, moving, installation and repairs, and says this has helped to drive annualized gross merchandise volume to a record $1.7 billion.
FinLedger recently spoke with Merrick Lackner, CEO of Rently, about self-touring proptech and how smart home solutions benefit renters and property managers.
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In addition to hiring plans, oHouse has also looked to acquisitions to advance its global expansion plans, including the recent purchase of Singaporean online furniture platform Hipvan. It says this will help expand presence in Southeast Asia, and says other priority markets include the U.S. and Western Europe.
oHouse also says that it plans to incorporate machine learning and augmented reality (AR) into the platform, which it says will help “transform the way users and brands leverage the platform to create content, build community and buy and sell products and services.”
In other recent proptech news, architectural and design material proptech marketplace Material Bank raised a $175 million Series D from Brookfield Growth. Backflip also raised a $35 million mix of debt and equity funding to help entrepreneurs invest in residential properties.