MCI Management leads Auctionata's €42m series-C

New backers Hearst Ventures, Kreos Capital and Yuan Capital also participated in the round alongside existing investors Earlybird, e.ventures, Kite Ventures, Raffay Group, TA Ventures, Bright Capital, REN Invest and Holtzbrinck Ventures.

The fresh funding will be used to further develop the company's livestream format, as well as to grow both its current auction categories and to prepare the launch of new categories, including musical instruments and memorabilia, as well as luxury real estate.

Previous funding
In April last year, Auctionata raised its €21.5m series-B funding round from Holtzbrinck Ventures, e.ventures and Earlybird.

Two years previously, it raised around $20m from e.ventures and Holtzbrinck, with Russian VC Bright Capital's digital arm investing approximately $2.5m in December 2012. Earlybird committed a similar amount in April 2013.

Auctionata has raised around €79m in growth financing over the three rounds.

Company
Launched in May 2013, Auctionata live streams weekly auctions of art, antiques and collectibles. It also offers valuation, authentication, curation and related services. More than 300 experts worldwide are available to assess each object before it is auctioned. Auctions take place from its Berlin headquarters and its New York office. The company has additional offices in London, Zurich, Rome and Madrid.

The company generated turnover of €31.5m in 2014 and has recorded sales of €12.5m in Q1 2015.

People
Alexander Zacke is founder and CEO of Auctionata. Sylwester Janik is a partner at MCI Management.

Advisers
Company – GP Bullhound (Corporate finance).

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• Topics
• DACH
• Expansion
• Consumer
• Germany
• Holtzbrinck Ventures
• Earlybird
• MCI Management