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