RealTime IT News

Ourhouse.com Secures $20 Million in Venture Funding

OurHouse.com, a start-up aimed at merging "clicks and mortar" in the home improvement market, received a $20 million first round of venture funding from Technology Crossover Ventures (TCV), Brentwood Venture Capital and Institutional Venture Partners (IVP).

Brentwood Venture Capital and IVP recently merged to form Redpoint Ventures.

OurHouse.com, scheduled to launch this month, said it aims to be "the leading provider of home improvement products, information and services on the Internet."

Combining e-commerce with traditional retailing, OurHouse.com is partnering with Ace Hardware to deliver goods to consumers through Ace's established warehouse distribution network and relationships with more than 1,000 home improvement products manufacturers.

"OurHouse.com's goal is to be the best online home improvement resource, providing everything people need to make their house a dream home," said Philip Airey, founder and chief executive officer of OurHouse.com and a former consultant for Ace Hardware.

"OurHouse.com revolutionizes the Internet for home improvement because it's a complete solution, offering extensive instructions and education as well as products and services," said Mike Linnert, general partner of TCV.

OurHouse.com will offer products and information from home improvement suppliers, a library of project "how-tos" and online chat sessions with contractors and home improvement experts.