RealTime IT News

OurHouse.com Secures $30 Million in Venture Funding

Home improvement e-commerce operation OurHouse.com, launched only last December, closed on $30 million in new debt and equity financing from Comdisco Ventures, Transamerica Technology Finance and Relational Funding Corp.

The company previously received $20 million in venture capital funding, as well as $5 million in initial financial backing from bricks and mortar retail giant Ace Hardware.

"This funding round gives us greater operational flexibility," said Peter Stelian, founder and chief financial officer of OurHouse.com. "It allows us to build on our current success with consumers and remain solely focused on being the premiere online destination for home solutions."

Partnered with Ace Hardware, OurHouse.com offers consumers how-to information and services along with access to more than 30,000 products.