Virtual home design app Hutch has raised $10 million in a Series A financing round led by online real estate portal Zillow Group. The investment will be used to accelerate product development and growth of the company’s home design app and functionality.
Hutch is an augmented reality interior design app that allows users to customise or decorate rooms and living spaces in their homes by using on-demand style filters.
Created with proprietary photo technology, Hutch builds a virtual rendering of personal spaces (cleared of furniture) to begin the design process. The app is available for both iOS and Android devices.
This is Zillow Group’s first investment in a startup. As part of the deal, chief executive officer Spencer Rascoff will join Hutch’s board of directors.
Beatrice Fischel-Bock, CEO and co-founder of Hutch, said:
“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. 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.”
Spencer Rascoff added:
“A huge hurdle both renters and buyers face is envisioning themselves in a new home. 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.”