Home Interior Platform Ohouse Raises USD 70 million
The new investment brings the South Korean company’s total funding to USD 80 million
SEOUL--(Korea Newswire) November 23, 2020 -- Bucketplace, which operates the home interior platform Ohouse, announced today that it has raised USD 70 million in Series C funding led by global technology investment firm, BOND. Existing investors, IMM Investment, Mirae Asset Venture Investment, Mirae Asset Capital, and NAVER corporation participated in the round. The company will use the capital to further develop its technology platform and expand its service offerings to further improve its customer experience.
South Korea based Ohouse is the industry’s leading home interior platform. Founded in July 2014, the company combines community-driven content with a seamless commerce experience, allowing customers to find inspiration for their homes, discover new products, and purchase interior décor, furniture, and appliances directly from the Ohouse app. The company also offers a home remodeling service that matches customers with trusted home remodeling professionals. By redefining how people can decorate their homes, Ohouse is powering innovation in Korea’s interior design industry.
Ohouse has amassed a significant following among Korean consumers. The younger generation of Korean consumers value work-life balance more than their parents and actively look for ways to improve their homes. Also, more consumers have begun shopping for home furnishing items online due to Covid-19. To date, the app recorded 14 million downloads and monthly gross merchandise value has surpassed KRW 100 billion.
“This new round of funding serves as a testament to the growth potential of Ohouse,” says Bucketplace CEO Seungjae Lee. “We are excited to partner with a renowned global technology investor, BOND, and grateful to our existing investors who continue to trust us. We will strive to innovate the industry and provide our consumers with unparalleled solutions and excellent services that are tailored to their unique preferences.”
“Ohouse is transforming the home furnishing industry in Korea by allowing consumers to share, discover, and access high-quality home products and services - all through a delightful digital experience,” says BOND General Partner Daegwon Chae. “The company’s mission is simple - to improve people’s lives by making their homes beautiful. We are excited to support them in this mission.”
BOND is a global technology investment firm that supports visionary founders throughout their entire life cycle of innovation and growth.
To learn more about Ohouse, please visit https://ohou.se/
Ohouse was launched in July 2014 with a mission of improving people’s lives by making their homes beautiful. Customers can discover their style with the help of Ohouse user-generated content, purchase furniture and home furnishing items to make their preferred style come true and hire trusted home remodeling professionals. It is selected the Best App of the Year by Google Play in Korea in 2018. The app recorded 14 million downloads and monthly gross merchandise value has surpassed KRW 100 billion.
Haneul Maeng, PR Manager
This is a news release distributed by Korea Newswire on behalf of this company . Learn more