Artsy, the New York startup that has positioned itself as the go-to place for all things arty — a platform for people to learn about visual art online as well as explore opportunities to buy and sell work — has raised $50 million in funding.
The company is not disclosing its valuation but deal intelligence service Pitchbook notes that it is $275 million post-money (and $225 million pre-money).
Carter Cleveland, Artsy’s co-founder and CEO, said in an interview that the plan is to use the investment to dive deeper into auctions, which today are the fastest-growing part of the site after the company secured partnerships with Christie’s, Sotheby’s and Phillips, the three leading brick-and-mortar auction houses.
Meanwhile, Artsy’s current business mainstay — developing and hosting sites for 1,800 commercial galleries in 90 countries, and selling their work online — has helped contribute to $20 million of sales each month from a user base of 2 million unique visitors per month (who also visit it for its content, which includes an in-house magazine and other informational content).
The Series D, which brings the total raised by Artsy to around $100 million, was led by Avenir Growth Capital, a new firm out of New York, and includes a very long list of investors — 56, according to the Form D we spotted.
Some of the most prominent are worth noting.