Total amount raised
$106 Millions
Latest funding date
11/1/2021
Location
Alt has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The platform specializes in the exchange, investment, valuation, secure storage, and authentication of collectible cards.
Keep reading to delve into the details of Alt's funding journey and the investors who are backing this innovative platform.
What Is Alt?
Alt, founded in 2020 by Leore Avidar, is headquartered in San Francisco, California. The company specializes in the exchange, investment, valuation, secure storage, and authentication of collectible cards.
With a team of 101-250 employees, Alt provides a platform that enables users to buy, sell, and securely store their trading cards. The company also offers lending services against card assets and real-time pricing data to help users make informed decisions.
Alt's mission is to transform investing by unlocking the value of alternative assets, making it easier for collectors to manage and grow their collections.
How Much Funding Has Alt Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the initial platform and begin operations.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue development and expand the team.
- Seed Round
- Amount Raised: $10,000
- Date: March 2021
- Lead Investors: Max Mullen
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and product development.
- Series A
- Amount Raised: $31 million
- Date: March 2021
- Lead Investors: Seven Seven Six
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and enhance user experience.
- Series B
- Amount Raised: $75 million
- Date: November 2021
- Lead Investors: Spearhead
- Valuation at Round: Over $325 million
- Motivation Behind the Round: To expand into new asset categories and prepare for mobile app launch.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further innovate and expand the platform's capabilities.
Total Amount Raised: $106,010,000
Current Valuation: Over $325 million
Key Investors
- Spearhead
- Details: Spearhead is a program co-created by Jeff Fagnan and Naval Ravikant. It aims to transform founders into angel investors.
- Investment Focus Areas: Technology, startups, early-stage ventures
- Notable Investments: Not publicly disclosed
- Seven Seven Six
- Details: Seven Seven Six is a venture capital fund founded by Alexis Ohanian. The fund focuses on investing in innovative and impactful startups.
- Investment Focus Areas: Technology, consumer products, social impact
- Notable Investments: Not publicly disclosed
- Vibe Capital
- Details: Vibe Capital is a founder and operator-led fund. It focuses on supporting early-stage companies with high growth potential.
- Investment Focus Areas: Technology, consumer products, fintech
- Notable Investments: Not publicly disclosed
- Breyer Capital
- Details: Breyer Capital is a global venture capital and private equity firm founded by Jim Breyer. The firm invests in a wide range of sectors.
- Investment Focus Areas: Technology, healthcare, media
- Notable Investments: Facebook, Etsy, Marvel Entertainment
- Tom Brady
- Details: Tom Brady is a professional football player and entrepreneur. He has invested in various ventures, including sports and wellness companies.
- Investment Focus Areas: Sports, wellness, technology
- Notable Investments: TB12, Autograph, Therabody
What's Next for Alt?
Alt is poised to capitalize on the booming market for alternative assets, with opportunities spanning from trading cards to NFTs and even luxury items like watches and sneakers. The launch of their mobile app and expansion into new asset categories could significantly enhance user engagement and market reach.
Future fundraising seems promising, given the strong backing from high-profile investors and the company's rapid growth. However, Alt will need to navigate challenges such as regulatory hurdles and competition from other platforms. Ensuring the security and authenticity of assets, especially digital ones, will be crucial as they scale.
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