Hutch Interiors, Inc., a home design app that allows users to apply style filters to photos to customize rooms in their home, today announced that it has closed a $10 million Series A financing round led by Zillow Group. The investment will be used to accelerate product development and growth of the company's home design app and functionality.
This is Zillow’s first-ever investment in a startup. As part of the investment, Spencer Rascoff, Zillow Group's chief executive officer, will join Hutch's board of directors. Rascoff brings his extensive tech startup and real estate experience to their existing leadership team.
"We are very excited to be working with Zillow Group as the company has been empowering home shoppers and renters with innovative technology for more than decade," said Beatrice Fischel-Bock, CEO and co-founder of Hutch. "Spencer's extensive knowledge of consumers, technology and real estate make him a natural fit for our board and look forward to his input as we continue to rapidly grow and scale our business."
Founded in 2015, Hutch lets users upload photos of different rooms in their home and provides them with “design filters,” or visualizations that use augmented reality to show how various styles might look with new items that can be purchased directly through the app.
Rascoff, who splits his time between Seattle and Los Angeles, said Hutch “has the potential to be transformative to the home shopping process.”
"A huge hurdle both renters and buyers face is envisioning themselves in a new home," said Rascoff. "By investing in Hutch, we are enabling breakthrough innovation that enhances online home shopping and design experiences."
Zillow said that this is “strictly a financing deal", and that it has no plans to integrate Hutch's technology into its own platform.
While this is Zillow’s first investment in a startup, it has acquired many companies over the past decade, including StreetEasy, HotPads, dotloop, and Trulia, which was its largest competitor.