AUSTIN, TX, Treehouse has raised $16 million in new funding from undisclosed investors.
TreeHouse just closed its largest round of funding to date. Led by Garrett Boone, co-founder of The Container Store, the $16 million round will be used for store openings in new markets, technology development, and an e-commerce launch. It will also help fund the opening of a product incubator.
TreeHouse produced 60 percent year-over-year revenue growth from 2013 to 2014. The first-of-its-kind home improvement company specializes in curated products and services that promote healthful and sustainable spaces, with an emphasis on high performance and design.
TreeHouse's business model has shifted from pure retail to a hybrid of retail plus home solutions. Co-founder and CEO Jason Ballard has already tentatively chosen cities for TreeHouse's first two new stores and will announce locations as soon as leases are signed.
'We've learned a lot since opening the Austin store in 2011 and can't wait to build a store that will incorporate all that knowledge,' said Ballard. 'We're proud of the team of employees and investors who believe in TreeHouse. We think we're up to something very special. This next store will be a new type of retail experience - a real game changer.'
TreeHouse has developed a reputation for identifying emerging technologies and helping them reach the home market. The company launched an innovative solar financing program in 2013 that provides a straightforward path to solar ownership for a whole new segment of homeowners. TreeHouse is one of the top-selling locations in the U.S. for the Nest learning thermostat, and Tesla recently announced that TreeHouse will be the first retailer to sell the Powerwall home energy storage battery. TreeHouse is also the first home improvement store to sell products from Big Ass Fans, Barn Light Electric, and Bolefloor.
Austin-based TreeHouse is a first-of-its-kind home improvement company. Founded in 2011, TreeHouse has one location in South Austin, and a first wave of expansion is currently underway.
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