WorthPoint, an Atlanta and Dublin, Ohio-based online resource for valuation and associated services for art, antiques and collectibles, closed a $3.6m equity funding round.
Participants in the round include existing and new angel investors, as well as principal partners from Cheviot.
Founded in 2007 by Will Seippel, CEO WorthPoint is an online media company that provides a vast database of sales records on art, antiques and collectibles in a repository branded Worthopedia.
The company, which will also expand credit capacity with its current bank by up to $1m, intends to use the funds to launch globalization and publisher content integration efforts, as well as add new products already scheduled for 2011.
Product additions include:
– expanded price guide (Worthopedia™);
– community forums providing both free and paid members with access to expert opinions and debates regarding the most topical issues in the world of collecting;
– Native iPhone®/iPad® application enabling a full range of research and valuation functions for users when attending auctions, trade shows, estate sales and other remote locations.
To support product developments and marketing projects, WorthPoint intends to increase its staff of at least 12 positions – mainly in its Dublin, Ohio-based Operations Center.
The publisher content program involves partnerships with expert organizations that will contribute information complementary to the company’s Worthopedia Price Guide listings.