The threat from eBay’s new live-bidding platform has not scared away investors in Auctionata, which has raised more funding. The German auction house raised 42 million euros ($45 million) and will use it to grow existing categories, launch new categories, and further develop the livestream auction format.
It also plans to grow its global base of buyers and sellers and will focus on “sustainable growth.”
In an article from a year ago, we looked at Auctionata’s background and what made the company appealing to investors – a site that Silicon Valley consultant Sramana Mitra said “realizes the true potential of a context-specific, deeply personalized user experience that brings together content, community, commerce and vertical search.”
Since then, eBay has resurrected a live-bidding platform for fine art in partnership with Sotheby’s and Invaluable, with the latter aggregating auctions from many auction houses. And, as we noted, Amazon has also entered into the fine art business, working with galleries and dealers to bring artwork to Amazon shoppers in a fixed price format.
MCI Management from Warsaw led the round in Auctionata in which all existing investors participated. They were joined by new investors Hearst Ventures from New York, growth investor Kreos Capital from London, and Yuan Capital from Hong Kong.
MCI Management partner Sylwester Janik said in the announcement, “We are excited to back Auctionata’s ambitious growth plans. The company is an excellent example of what we look for in our investments: a disruptive business model combined with a high quality team and a leadership with strong industry experience.”
Among the new categories Auctionata will launch this year are Musical Instruments and Memorabilia, Architectural and Garden, Diamonds, and Luxury Real Estate.
