COMPANY, a Silicon Alley-based startup that operates a social network for contemporary art collectors and online art market, has closed a $1.6m first seed funding.
Backers include New York angel investors the Reen Family Office and Ten Paces Capital Partners.
The company intends to use the funds to expand offline networking events and create digital content.
Founded by CJ Follini in March 2011, COMPANY is an online art market that provides collectors of contemporary and emerging art with a curated secondary market to sell and exchange artworks from their own collections. Its website offers limited edition prints by emerging artists. COMPANY’s offline networking event series – The Collector Series – and reality cable show – CollectorNYC – will debut in the fall.