Leader in Fulfillment Technology and Services on Track to Quadruple Year-over-Year Revenue
NEW YORK, Oct. 11, 2022 /PRNewswire-PRWeb/ -- Today, ARTA, the leader in fulfillment technology for high-value goods and collectibles, is announcing it has secured $11 million in Series A financing. Led by AXA Venture Partners and with participation from Corazon Capital, Coelius Capital, Pari Passu Venture Partners, and Mu Ventures, the funding will help the company continue to reduce friction in fulfillment processes by expanding its technology platform, international coverage, compliance and insurance products, and integrations for businesses of any size. The news comes on the heels of a banner year for ARTA, including a quadruple increase in transactions and revenue year-over-year.
"Every consumer expects a seamless transaction from start to finish, and buyers of high-value goods and collectibles are no exception," said Adam Fields, Founder and CEO of ARTA. "For many sellers, the breakdown in their ability to meet buyer expectations happens within the complexities of managing the post-purchase experience. ARTA alleviates this burden by bringing together disparate parts of the fulfillment process, including quoting, shipping, insurance, and tracking, to deliver a frictionless, integrated experience that serves buyers and sellers alike."
ARTA helps businesses accelerate ecommerce for high-value goods like priceless paintings, vintage furniture, and rare baseball cards, seamlessly automating every step of the fulfillment process. Well-known auction houses including Sotheby's and Bonhams, marketplaces like Artsy, high-end home decor companies like The Expert and Outer, and Joopiter, a digital-first auction house founded by Pharrell Williams, all partner with ARTA to drive sales and improve customer satisfaction.
"Through our partnership with ARTA, Artsy now not only transacts hundreds of thousands of artworks from thousands of galleries around the globe, we handle all the shipping and customer service to the delight of our collectors," noted Samuel Rozenberg, Chief Product & Technology Officer at Artsy.
"A great ecommerce experience requires efficient transaction fulfillment for both buyers and sellers. While commoditized products benefit from recent technological advancements, many unique and high-value products still require analog processes and manual intervention," said Sam Yagan, Founding Managing Director of Corazon Capital. "ARTA has developed best-in-class technology that will redefine the post-purchase experience for a wide-variety of ecommerce categories."
ARTA's global platform services over 65 countries and counts over 500 service providers in its growing network of partners. ARTA expects its growth trajectory to continue, which includes increasing headcount by at least 50 percent by the end of this year. For more information about ARTA, including current openings, visit: https://arta.io/
About ARTA
ARTA is transforming the post-purchase experience for buyers and sellers of high-value goods and collectibles. As the only platform that pairs fulfillment technology with end-to-end global services, ARTA is designed to help merchants, marketplaces, and auction houses accelerate ecommerce by automating everything from shipping to tracking and insurance. Businesses like Sotheby's, Bonhams, Outer, The Expert, and Joopiter partner with ARTA to drive revenue, reduce operational costs, and improve customer experiences. The company is headquartered in New York, with global operations in over 65 different countries.
About AXA Venture Partners
AXA Venture Partners (AVP) is a global venture capital firm with over $1.5B of assets under management. AVP invests across stages in rapidly growing tech companies in enterprise, fintech, consumer and digital health sectors. With offices in New York, San Francisco, London, Paris and Singapore, AVP helps companies scale internationally. AVP also offers portfolio companies unique business development opportunities to further accelerate their growth.
About Corazon Capital
Born out of a love for building startups and a passion for backing entrepreneurs with heart, Corazon Capital, a leading Chicago-based venture fund, brings a coastal approach to Seed and Series A investing. With a rare blend of investing experience and operating expertise, Corazon Capital provides unusually pragmatic, actionable counsel to the entrepreneurs it supports. Corazon Capital believes that the best entrepreneurs and the smartest VCs will intentionally solicit both financial and operating investors in their syndicates, with Corazon Capital recognized across geographies for its deep operating knowledge and reach inside and outside of Chicago.
Media Contact
Aimee Eichelberger, Superior PR, 312-952-1528, [email protected]
SOURCE ARTA
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