Auctionata, a Berlin based startup that broadcasts online live auctions for fine arts and collectibles, announced that it has raised $45 million in a Series C round of funding from a group of investors led by MCI Management, the investors including Hearst Ventures.
The company intends to use the money for expansion of its service to new geographies and categories. Auctionata’s Founder and CEO Alexander Zacke said in a statement, “In the future Auctionata will focus on efficient growth and thereby lay the ground for both organic and non-organic categories and geographic expansion” as reported by TechCrunch.
Zacke also added, “Since the launch of the weekly live stream auctions in May 2013, Auctionata has grown considerably and has successfully positioned itself among the global leaders for online auctions of art, antiques and luxury collectibles”. In 2014 the auctioneer had net sales of $34 million, with $13.5 million up till now in the first quarter of 2015, the company seems to be heading the right course.
The net of investors in this round, in addition to MCI and Hearst, include Kreos Capital from London and Yuan Capital from Hong Kong, as well as existing investors Earlybird, e.ventures, Kite Ventures, Raffay Group, TA Ventures, Bright Capital, REN Invest and Holtzbrinck Ventures.