Houzz Inc., the US home remodeling and design, as acquired IvyMark, an Israeli developer of a business management tool and engaged community for interior designers and other home design companies.
No financial details were disclosed but Israeli media believe that Houzz will be paying $30-40 million for IvyMark.
Co-founded in July 2016 by Alexandra Schinasi and Lee Rotenberg IvyMark raised $2.9 million from Disruptive VC, Pitango, and NFX. The company platform enables interior designers to run their entire business more efficiently — from sourcing products, creating estimates and sending invoices, to managing vendor purchases and more. IvyMark quickly gained traction within the interior design community, signing more than 2,400 design firms in just over a year.
IvyMark has built a thriving community around its platform, including an online forum, trade magazine, educational webinars, and member meetups across the United States. Headquartered in New York, IvyMark also has teams in San Francisco and Tel Aviv.
Founded by Israelis Alon Cohen and Adi Tartako Palo Alto, California, based Houzz has raised over $600 million to date with small R&D facility in Tel Aviv.
Houzz has more than 1.5 million active home renovation and design professionals in over 65 categories — including more than 200,000 designers worldwide. The addition of IvyMark’s platform will enable Houzz to also provide home professionals with tools that will help them run their businesses more efficiently, effectively and profitably.
“IvyMark has built an incredible platform and team that align with our mission of providing the best experience for home renovation and design, by helping design professionals manage their business,” said Alon Cohen, Houzz co-founder and president. “We are excited to bring the power of IvyMark’s software and community to more professionals.”
“We’re delighted to join forces with Houzz, a natural fit for IvyMark when it comes to innovation, culture, and user base,” said Lee Rotenberg, IvyMark cofounder.
cofounder Alexandra Schinasi added.“Houzz will allow us to continue on our mission of modernizing the way interior designers do business while introducing Ivy to a massive audience and opening the door to new opportunities.”