NEW YORK, May 27, 2021 /PRNewswire-PRWeb/ -- Today, ARTA, leader in logistics software and fulfillment services for high-value goods and collectibles, is announcing it has secured $4.5MM in seed financing with participation from new and existing investors including Corazon Capital, Gaingels Ventures and Flight.VC. The funding brings ARTA's total amount raised to $8.5MM and will be used to accelerate product development and support its growing number of merchants, marketplaces and platforms using its API. ARTA's API removes the barrier for sellers to launch or scale ecommerce initiatives globally by automating logistics and fulfillment—a nuanced and complex endeavor for high-value goods and collectibles.
A recent Art Basel and UBS report showed that online sales of art, collectibles, and antiques reached a record high of $12.4B in 2020, doubling in value from 2019. The accelerated growth of ecommerce for these types of items comes as buyers are more comfortable purchasing everything online. These two trends colliding have driven a surge in demand for ARTA's offerings: an API that provides instant shipping costs for any item type—regardless of size, material, or price point—at the point of sale, and end-to-end fulfillment services. The company saw the highest monthly volume of shipments ever in April 2021, and had its strongest quarter in company history in Q1 across revenue and volume.
"The explosion of online sales of art, design objects, and collectibles has driven an immediate need for our product. We've always known that logistics was the achilles heel of commerce, but it is most pronounced when dealing with high-value, oversized or unique objects that can't be replaced," said Adam Fields, CEO of ARTA. "There are a number of companies that automate shipping for mass produced items, but because sales of unique, collectible items have been slow to come online, nobody was tackling the shipping problem. Our thesis is a frictionless transaction and fulfillment solution is the catalyst that will change this. And as this trend has shifted, our product is here to support it. With this funding and our new investment partners, we can continue to grow our team and expand our product offerings to meet the evolving needs of this burgeoning market."
In the past, buyers might be able to browse high-value and collectible items online, but not make a purchase. "Click to inquire" buttons were the norm, requiring collectors to email about pricing and other details. Moreover, shipping is often coordinated post-sale, and buyers have little visibility into those costs until after an item is purchased. With ARTA, however, merchants and marketplaces can launch or scale their ecommerce platforms quickly, and in a way that meets the frictionless purchase experience buyers expect today, with one-click checkout and upfront shipping costs.
"ARTA had the foresight to see that high-value and collectible items would thrive via ecommerce channels if there was a more frictionless transaction and fulfillment experience for sellers and buyers alike," said Sam Yagan, Co-Founder and Managing Director of Corazon Capital. "The market for high-value items is undergoing a digital transformation, and ARTA has proven to be the standard that can drive this entire ecosystem forward. Shipping is a core part of the ecommerce experience, and we are excited to be able to support ARTA as they continue addressing this fast growing market."
ARTA ships thousands of items annually across 60+ countries, for companies like Sotheby's, LiveAuctioneers, Hauser & Wirth, and Artsy. ARTA is projected to grow 4X in 2021, with 10 API integrations expected to be live by the end of the summer. For more information about the company and its services, visit shiparta.com.
About ARTA
ARTA's API automates shipping and fulfillment for high-value and collectible objects. Our software provides instant shipping costs for any item type—regardless of size, material, or price point—allowing our clients to reduce overhead, scale faster and offer a frictionless purchase experience for their buyers. With end-to-end global fulfillment services including shipping, packing, tracking, and insurance, ARTA is an all-in-one logistics solution for merchants and marketplaces. For more information about how to leverage ARTA's platform to ship everything and anything requiring specialized care, visit shiparta.com.
Media Contact
Aimee Eichelberger, Superior PR, 3129521528, [email protected]
SOURCE ARTA
Share this article