December 17, 2010 in ATDC News

The Startup Chronicles: WorthPoint’s $3.6M Raise

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With over 6 million visits per month ATDC company Worthpoint is the become a leading site for collectibles valuation in the world. The company’s main product is a searchable database of sales records on art, antiques and collectibles. The company helps collectors accurately assess the worth of their items and provides expert advice from its international team of Worthologists on how to preserve or sell antiques and collectibles.

This week the company announced a new equity raise of $3.6 million led by the British firm Cheviot. Worthpoint is planning to use the cash to increase its workforce and to continue international expansion. The executive team is working with publishers of collectibles and antiques magazines and websites to integrate content and offerings such as international auction price data and currency conversion tools. Eventually the WorthPoint internet offering may be expanded through fully localized European-based web sites.

Will Seippel, Founder and CEO of WorthPoint, tells us that the company’s core business is profitable. Lead 411’s 2010 Technology 500 List reports Worthpoint’s annual revenue at $1.3 million and the company sits as the 16th fastest growing company in the United States. New products scheduled to arrive in 2011 will include an expanded price guide that includes more than 100 million items, a fremium community forum with access to collectibles experts, and an iPhone application for on-the-go valuations.

Worthpoint is taking full advantage of the power of the internet to give buyers better access to information and more efficient collectibles and antiques markets. With the world’s largest and growing resource center for researching collectibles and antiques and the upcoming slate of valuation tools, WorthPoint is well on its way to becoming the ultimate ‘go to’ destination for collectors.

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