WatchBox, a Philadelphia, PA-based online destination for collectible luxury watches, raised $165m in equity funding.
The round was led by The Radcliff Companies and The Spruce House Partnership, which were joined by CMIA Capital Partners as well as other existing investors. Current investors include Giannis Antetokounmpo, Chris Paul, Devin Booker, Karl Anthony Towns, Michael Jordan, Michael Strahan, Larry Fitzgerald, Bill Ackman, Marc Lasry, Carvana lead shareholder Ernie Garcia II, Danny Maegaard, Mike Lazerow, Howard Linzdon, and the founders of Warby Parker, Allbirds, and Harry’s.
With this latest announcement, WatchBox made 3 additions to its board of directors, including:
- Jeff Saunders (CTO, Warby Parker),
- Eli Goldstein (Co-Founder, The Radcliff Companies), and
- David Berkman (Managing Partner, Associated Partners).
The company intends to use the funds to further scale its digital platform, expand into new markets, and enhance its inventory selection.
Founded in 2017 by Justin Reis, Tay Liam Wee, and Danny Govberg, WatchBox is a platform for collectible luxury timepieces offering a large collection of pristine condition luxury watches, authenticated, and backed by a global warranty. Members of the collector community receive concierge service online or at any of its global locations in the US, Hong Kong, Singapore, Switzerland, and Dubai, with additional locations on the way.
WatchBox produces and distributes original video content daily, with a growing library that includes market insights, collector interviews, and thousands of watch reviews.