3 years ago

oHouse Raises $182 Million, Reaches $1.6 Billion Valuation

  • oHouse, a South Korean lifestyle and decorating platform, has raised $182 million in a Series D funding round, bringing its total funding to $261.2 million and valuing the company at approximately $1.6 billion

  • The app, which allows users to browse photos of other users' designs for inspiration and purchase items similar to those in the photos, has over 20 million downloads and 10 million monthly active users

  • Investors in the latest round include Korea Development Bank, billionaire Park Hyeon-joo's Mirae Asset Capital, SoftBank Ventures Asia, the venture arm of Japanese billionaire Masayoshi Son's SoftBank Group, and Singaporean state-owned investor Temasek Holdings' Vertex Growth

  • oHouse plans to use the new funding to expand its logistics infrastructure for delivery services, incorporate machine learning and augmented reality (AR) functionality into its platform, and expand globally, starting with Southeast Asia, the United States and Western Europe.

      • ProblemTechnology

      "Many people, especially those living in small, expensive apartments in densely populated cities, struggle to find inspiration and affordable options for interior design. This is compounded by the increasing need for functional and aesthetically pleasing home offices."

      Solution

      "oHouse offers a content-driven platform where users can browse interior design ideas, purchase furniture and home goods, and access services like remodeling and moving. By connecting a community of users and leveraging AR technology, oHouse makes it easier for people to design and furnish their dream homes, regardless of space constraints."

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