The First Art Newspaper on the Net Established in 1996 United States Saturday, September 20, 2014


Invaluable raises $33.75 million investment led by Insight Venture Partners to scale the live auction industry
The new round of funding will further extend Invaluable’s market leadership position, and accelerate growth, as the company works to rapidly scale the live auction industry.
BOSTON, MASS.- Invaluable, the world’s largest online live auction marketplace, today announced that it has raised $33.75 million in a Series D funding round led by New York-based Insight Venture Partners, with participation from existing investors Ascent Venture Partners and Commonwealth Capital Ventures. As part of the transaction, Bradley Twohig, principal at Insight Venture Partners, will join Invaluable’s board of directors.

The new round of funding will further extend Invaluable’s market leadership position, and accelerate growth, as the company works to rapidly scale the live auction industry. Funds will be leveraged for technology innovation and team expansion, as well as additional strategic partnerships and acquisitions. The capital raise follows a record year for Invaluable in 2013, during which the company experienced a 98 percent increase in gross merchandise sales.

“We experienced exponential growth in 2013, and this funding will help us continue to revolutionize the live auction industry even more rapidly,” said Invaluable CEO Rob Weisberg. “We are thrilled to be working with Insight Venture Partners, whose team brings additional expertise with respect to growing and scaling an online technology-driven marketplace.”

The news of the funding comes on the heels of several large partnership announcements for Invaluable, including the launch of an exclusive partnership with eBay to make auction catalogs available for online bidding by eBay’s 145 million active users through their new live auction platform. In April, Invaluable also announced an exclusive agreement with EpaiLive, Asia’s leading online auction platform for antiques and art. Catalogs from Invaluable auction houses throughout North America are now listed on EpaiLive’s platform, with guaranteed payment from EpaiLive’s 100,000 registered users in China.

“As the market-leader in the online live auction space, Invaluable continues to disrupt the traditional auction industry with innovative new technology and products,” said Twohig. “We are pleased to partner with Invaluable to help fuel the company’s continued growth.”



Today's News

June 4, 2014

"Hendrick Goltzius and Dutch Mannerist Printmaking" exhibition opens in Frankfurt

Distilled: Bernard Jacobson Gallery opens group exhibition at New York gallery

Vincent van Gogh’s left ear produced by means of artificially engendered living tissue on view at ZKM

Collection of founder of the Buffalo Bills NFL franchise to lead Sotheby's sale

Portland Art Museum acquires important collection of Robert Adams photographs

Ewbank's to sell The Michael Compton Collection of Post War and Contemporary Art

A summer sale of fine English furniture and decorative arts at Christie's South Kensington in July

Pop culture lasting legacies at Christie's South Kensington on 20 June 2014

Inside the White Cube: Alex da Corte opens exhibition at White Cube Bermondsey

Cuban-American artist Jorge Pardo opens exhibition in the Augustins Museum in Toulouse

Very rare eyewitness account of Zulu Battle of Rorke's Drift for sale at Bonhams

Bonhams turns 1859 dated $20 coin into $210,000 at Coins and Medals auction

Feed Folks, 1974, by David Hammons brings $1.2+ million at Heritage Auctions

Personal collection of moonwalker Alan Bean auctioned for $625,375

Jon Rafman's Hope Springs Eternal opens at galerie antoine ertaskiran in Toronto

Bonhams June Fine Jewelry Auction to feature the Onnalee Olson Doheny collection

Illuminating Objects: West African carved wooden pulley on view at the Courtauld Gallery

Titanic Belfast to close for major film production

St. Moritz Art Masters 2014 to focus on India

Thin Skin: Six artists from Beirut curated by Saleh Barakat opens at Taymour Grahne Gallery

Invaluable raises $33.75 million investment led by Insight Venture Partners to scale the live auction industry

Franco-German fund for contemporary art and architecture launches

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