Artfinder secures $2.2m to accelerate United States expansion and technology development.
Oxford Capital and William Tunstall-Pedoe have backed the online art marketplace in its latest financing round.
≈ £1.8M at $1 = £0.8167 on 3 Jan 2017
Artfinder operates an online marketplace connecting buyers with independent artists offering affordable original works. The company applies advanced visual search technology to help customers navigate large inventories.
Artfinder has raised $2.2m in a funding round featuring participation from Oxford Capital and angel investor William Tunstall-Pedoe. Existing backers including Wellington Partners and Cambridge Angels also supported the financing.
The fresh capital will be deployed to accelerate expansion in the United States, including the opening of a Miami office, and to further develop the company visual search technology using machine learning. Tom Bradley of Oxford Capital is joining the board following the investment.
From the founder
"Oxford and Cambridge are known the world over as being the UK’s leading centres for technology, and so it is with delight that we welcome both Oxford Capital, which has offices in London as well as Oxford, and Cambridge-based William Tunstall-Pedoe to join us, alongside other Cambridge Angels who are repeat investors."
Jonas Almgren
CEO at Artfinder
Investor perspective
"I love art and was very impressed with the Artfinder team and what they have built. The company is making great progress with its platform that links artists with art fanatics like myself interested in buying original works. In investing I was particularly interested in how advanced technology could accelerate the significant growth that Artfinder is already seeing."
William Tunstall-Pedoe
Entrepreneur, William Tunstall-Pedoe
Use of funds
- 01Expand into international markets
- 02Fund research and development
Investors
Categories
About the company
Artfinder
An online marketplace for buying and selling affordable original art.