Ohouse raises $70 million in Series C funding

Bucketplace Co., Ltd., which operates the one-stop interior design platform Ohouse, announced on the 23rd that it had raised $70 million (about KRW 77 billion) in Series C funding from global investment firm BOND Capital and existing investors.

BOND Capital, which led the Series C round, is a global technology investment firm based in Silicon Valley. It is also known for publishing an annual report analyzing current and future trends in the global internet industry. This is BOND Capital’s first investment in a Korean startup.

Alongside BOND Capital, existing investors IMM Investment, Mirae Asset Venture Investment, Mirae Asset Capital and NAVER also participated in the round, supporting Ohouse’s continued growth and development.

Ohouse leads the interior design platform market with user-focused content tailored to interior design and a shopping experience through its store. As the 52-hour workweek took effect and the COVID-19 pandemic continued, people spent more time at home and naturally became more interested in their living spaces. Ohouse has since established itself as an interior design app for all ages and genders. Its cumulative app downloads have surpassed 14 million, among the highest in the industry, and monthly transaction volume has reached KRW 100 billion across commerce and renovation services.

Daegwon Chae, general partner at BOND Capital, which led the investment, said, "Ohouse is transforming Korea’s interior design industry by offering an enjoyable digital experience where customers share and discover content about high-quality home furnishings and remodeling services. Ohouse’s mission is clear: to change people’s lives by helping them live in beautiful homes. We are delighted to support this mission.”

Lee Seung-jae, CEO of Bucketplace, said, “We are delighted that Ohouse has partnered with BOND, a global technology investment firm. We will do our utmost to transform the interior design industry through more advanced services and provide every consumer who needs interior design with the information and best-in-class services they need.”

With this funding, Ohouse has raised approximately KRW 88 billion in total to date. The funds will be used to strengthen its technology and further develop its products to improve the customer experience, as well as hire talent to expand its range of services.