Proxibid, an Omaha, NE-based online marketplace for buying and selling items, received a growth investment from Primus Capital.
The terms of the transaction were not disclosed.
The company intends to use the funds to invest in product development, further enhancing the user experience for buyers and sellers in the marketplace, and expand sales and marketing initiatives to drive brand engagement.
Founded in 2001 and led by Ryan Downs, President and CEO, Proxibid operates an online platform that connects buyers and sellers across 15 categories that include heavy equipment; industrial machinery; real estate; fine art, antiques and collectibles, and more. The company’s selling methodology, the AssetPath®, ensures assets are presented in a manner reflective of the urgency to sell, leveraging traditional ecommerce, timed auctions, and immediate liquidation via live auction.
More than 12,000 sales events take place in the Proxibid Marketplace annually, and more than 10,000 new buyers join the Marketplace each month.
The company has offices in South Sioux City, NE and London.