Artspace.com is an ecommerce platform and online marketplace for high-end art. Founded in 2011, the company has grown its inventory from about $7–8 million at launch to roughly $100 million on the site today. The platform facilitates direct engagement between galleries and collectors and the company reports significant sales occurring from JPEG images alone. Artspace plans to use new funding to expand its technology platform with new products and services and to enter new global markets by increasing marketing and supply partners. The Series B adds $8.5 million to the company's prior $3.7 million in venture and Series A funding, bringing known funding to $12.2 million. Canaan Partners led the round, reflecting investor interest in the art-technology sector. Artspace operates an online marketplace that connects contemporary artists and galleries with potential customers and enables art fairs to create virtual representations of their events. Everything listed on the site is available for purchase directly through the platform, with pieces ranging roughly from $100 to $6,500 on the homepage. The company has appointed Andrew Goldstein to lead its editorial teams to produce educational content and art-related news. Artspace plans to use recent funding to expand its team, boost marketing, and continue building out the product. Cofounded by Catherine Levene and Christopher Vroom, Artspace is part of a wave of New York City startups aiming to bring the art world onto the web. Financially, the company disclosed a prior $1.2 million seed round raised the previous spring. Artspace is a New York-based online marketplace for contemporary art. It offers collectors and art enthusiasts the ability to discover, learn about and collect works by world‑renowned and emerging artists at prices ranging from $200 to $10,000. The site provides discovery tools and extensive material on artists, institutions and galleries. Artspace partners with museums and galleries including the Asia Society, the Brooklyn Museum, the Guggenheim Museum, David Zwirner Gallery and others. Co‑founded by E. Vroom (Executive Vice President) and Catherine Levene (CEO), the company said it will release works over the next twelve weeks by artists such as David Salle, Tony Oursler, Ross Bleckner and Alexis Rockman. The company closed a $1.2M round of financing from investors including Robert Pittman, Pamela P. Kramlich and C. Richard Kramlich, Tim Mott and Alexander Lloyd.

Total raised

$12M

Funding rounds

3

Latest round

Series B

Latest activity

Feb 2013