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Houzz acquires interior design software company IvyMark for $30M+

California-based firm recently raised $400M from investors
February 06, 2018 03:20PM

From left: Lee Rotenberg, Alon Cohen and Alexandra Schinasi (Credit: LinkedIn and Getty Images)

Software giant Houzz acquired the interior design management software company IvyMark for $30 to $40 million.

Houzz, which recently raised $400 million from investors at a $4 billion valuation, runs an online marketplace connecting interior designers with clients. The latest acquisition allows the California-based company to expand its services into online payments and other arenas, TechCrunch reported.

IvyMark, founded by Alexandra Schinasi and Lee Rotenberg, previously raised $2.9 million from investors including Facebook’s David Marcus.

Houzz, founded by Alon Cohen and Adi Tatarko in 2009, has raised $613.6 million to-date, according to Crunchbase. Its investors include Sequoia Capital and T. Rowe Price. [TechCrunch]Konrad Putzier