To accommodate its recent growth, fast-growing Seattle home improvement data startup Porch is moving into new digs.
The company told GeekWire today that it has inked a lease for two floors and 50,000 square-feet at the Cobalt Building in Seattle’s SoDo neighborhood, which was previously home to online retailer Zulily before it left in 2013.
The new office at 2200 First Avenue South will double the amount of space available at Porch’s current headquarters in the South Lake Union neighborhood. Porch, which employs more than 350 people and raised $65 million in venture financing in January, will move in this quarter.
Craig Cincotta, Porch’s VP of Communications, said that the company has rights to expand to the entire 106,000 square-foot Cobalt Building if needed. That would give Porch room for upwards of 600 people.
In a statement, Porch’s COO Asha Sharma said that given the company’s growth, it was the right time to find a new headquarters.
“Our current space has treated us well, but the acceleration we are experiencing across every segment of the business, from number of professionals and homeowners on Porch to overall revenue requires more space for the team to grow so we can continue to develop and deliver innovative products,” Sharma said.
Earlier this month, real estate sources hinted that Porch was considering the Cobalt Building as a possible relocation spot. The company also moved out of its current building in part because of the expansion of Adaptive Biotechnologies, a heavily-funded spin out from the Fred Hutchinson Cancer Research Center that raised $94 million earlier this year.
Porch, ranked No. 5 on the GeekWire 200 list of privately-held Pacific Northwest technology companies, has raised $100 million in just two years after the startup came out of stealth mode, and 18 months after the Porch service launched nationally.
Porch — which faces competition from sites including Pro.com, Houzz, and Zillow Digs — has amassed data about 130 million home improvement projects across the country, allowing homeowners to see details about projects in their neighborhoods, and connect with remodelers and contractors.
The company offers its service for free to homeowners, charging professionals for market insights and promotional exposure. Porch says it has 3.2 million home professionals — including remodelers, contractors, and others — listed on the site, including 400,000 with licenses verified by the company.