Hutch Closes Series A Financing Round from Zillow Group

LOS ANGELES, July 12, 2017 /PRNewswire/ -- 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.

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."

"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. Hutch's augmented reality technology has the potential to be transformative to the home shopping process and we are excited for the opportunity to help them grow."

About Hutch

Hutch is an interior design media and m-commerce company that is reimagining how to conceptualize home furnishing and decor by using on-demand filters to decorate spaces instantaneously. Created with proprietary photo technology, Hutch builds a virtual rendering of your personal space (cleared of furniture) to begin the design process. The app focuses on visualization, allowing users to see their rooms reimagined through distinct design filters such as Malibu Luxe, Scandinavian Summer and Tropic Glam. The filters are curated by Beatrice and her network of designers and each product within the filter is shoppable directly through the app. They are the fastest interior design service on the market—targeting a tech-savvy generation—who gravitate towards products that are versatile, interactive, self-guided, and personalized.

About Zillow Group

Zillow Group (NASDAQ: Z and ZG) houses a portfolio of the largest real estate and home-related brands on the Web and mobile. The company's brands focus on all stages of the home lifecycle: renting, buying, selling, financing and home improvement. Zillow Group is committed to empowering consumers with unparalleled data, inspiration and knowledge around homes, and connecting them with the right local professionals to help. The Zillow Group portfolio of consumer brands includes real estate and rental marketplaces Zillow®, Trulia®, StreetEasy®, HotPads®, Naked Apartments® and RealEstate.com. In addition, Zillow Group works with tens of thousands of real estate agents, lenders and rental professionals, helping maximize business opportunities and connect to millions of consumers. The company operates a number of business brands for real estate, rental and mortgage professionals, including Mortech®, dotloop® and Bridge Interactive™. The company is headquartered in Seattle.

Zillow, Mortech, StreetEasy, and HotPads are registered trademarks of Zillow, Inc. Trulia is a registered mark of Trulia, LLC. dotloop is a registered trademark of DotLoop, LLC. Naked Apartments is a registered trademark of Naked Apartments, LLC. Bridge Interactive, Contact, Cheque and Compose are trademarks of Bridge Interactive Group, LLC.

Hutch Closes Series A Financing Round from Zillow Group