News
Collectors raises $100 million in new funding, adds vault service
Collectors Holdings, Inc. has raised $100 million in new funding, helping it increase its revenue and earnings by more than 100 percent year over year.
The new financing comes with a valuation of $4.3 billion and comes as the company launches its new corporate branding (“Collectors”) and website (www.Collectors.com).
The new Collectors.com unifies the company's brands into one experience, showcasing its group of authentication and grading services (PSA, PCGS, WATA), marketplace and auction platforms (Goldin, CollectorsCorner) and collectibles research tools (Card Ladder).
Collectors has experienced rapid growth over the past year thanks to strong demand for its authentication and grading services and increases in marketplace sales following the acquisition of Goldin. The company has also made a number of significant strategic acquisitions to expand its offerings, including new facilities in Seattle and New Jersey.
The new funding, raised from existing investors, will be used to further grow the business and invest in new technology.
“Our vision has always been to reinvest via technology and capacity expansion into our brands and simplify the collecting experience through innovation,” said Collectors CEO Nat Turner. “As a long-time collector, I’m personally passionate about the industry, and have been thrilled to be a part of its overall growth the last several years. We’re going to continue focusing on improving the customer experience and providing the trusted tools that every collector needs.”
In addition to the new funding and platform, Collectors also announced the launch of a secure vault platform and collection management service. Available this summer, the vault service will allow collectors to submit cards and collectibles for authentication and grading by PSA and transfer those items directly to a secure, 11,000-square-foot Delaware facility. Collectors will digitally manage submissions through Collectors.com by adding new items to the vault at any time or by offering items for sale through the Goldin marketplace.
Collectors was acquired last year by an investor group led by Turner, D1 Capital Partners L.P., Cohen Private Ventures, LLC and TCG Capital Management, L.P. To learn more about Collectors or join the team visit Collectors.com.
