ATLANTA – WorthPoint Corp., a company focused on creating an online database to help buyers and sellers value collectibles, has raised a $1 million follow on financing from unidentified investors.
Founder and CEO Will Seippel tells TechJournal South the money is a transition to a larger round in the $5 million range the company expects to raise by July.
The company, founded about two years ago, has raised a total of $7 million.
The site fills a gap in the collectibles marketplace, helping buyers and sellers establish the value of their items though its 20 million item database and a network of “Worthologists.”
Founder and serial entrepreneur Seippel has ties to both Atlanta and the Northern Virginia areas, recently completed an overhaul of its Web site.
It also shifted from an ad-supported model to one based on subscriptions and its “robust business with dealers.”
Advertising is one of the first sectors impacted by recessions and this one is no different. Seippel says the company has even replaced some Google ads with its own, calling attention to what it offers.
The company sells its database information to auction houses and collectible show promoters and subscriptions to its service, which users can try free for up to 14 days.
Previously on TechJournal South:
WorthPoint offers information clearinghouse for collectors
WorthPoint raises $2.1M
Atlanta-based WorthPoint acquiring GoAntiques
- Virginia’s WorthPoint moving to ATDC at Georgia Tech
- WorthPoint raising new round, anticipates another acquisition
- Atlanta-based WorthPoint acquiring GoAntiques
- Atlanta-based WorthPoint closes on GoAntiques buy
- WorthPoint continues rapid growth after move to Atlanta
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