South Korean Lifestyle Home Indoor Platform oHouseannounced that it has raised $182 million in a Series D funding round backed by SoftBank Ventures Asia.
The funding round was also participated by the management of BRV Capital, Vertex Growth, which is anchored by Vertex Holdings backed by Temasek, BOND, Korea Development Bank, IMM Investment and Mirae Asset Capital.
Developed by Bucketplace in 2014, oHouse offers an online-to-offline platform where users can browse a wide selection of indoor displays to find inspiration, discover new products and purchase them through the app.
The company combines community content with a seamless shopping experience, allowing customers to find inspiration for their home, discover new products and shop for home decor, furniture and appliances directly from the store. oHouse app.
Every seven seconds, a piece of furniture is purchased on the oHouse platform, helping drive annualized gross merchandise volume to a record $1.7 billion. Having just expanded into new sub-verticals, oHouse now offers a suite of home services including home renovation, moving, installation and repair.
“Eight years ago, oHouse was simply a community of people sharing interior design content with each other,” said Seungjae Lee, Founder and CEO of oHouse.
“Today, we have become a global platform that brings users together to inspire each other to transform their lives. We create solutions that can help our global user base meet every design and style challenge they face, whether it’s remodeling a bathroom, planning a dinner party, or putting set up a home theater system,” added Lee.
The next step for the global brand is to venture deeper into the lifestyle segment, which will include expanding its team internationally, according to the announcement. oHouse will strengthen its marketing, sales and product teams in key markets around the world, including appointing a head of US expansion.
Beyond growing into new markets, oHouse plans to integrate machine learning and augmented reality (AR) capabilities into its platform, which will completely transform how users and brands operate the platform. -form to create content, build a community, and buy and sell products and services.
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