Total amount raised
€180 Million
Latest funding date
06/01/2024
Location
Chrono24 has successfully navigated 9 funding rounds, attracting a total of 15 investors, including notable names like Charles Leclerc and FJ Labs. The platform has raised an undisclosed amount in its latest funding round, showcasing its appeal to a diverse group of backers.
Keep reading to explore the intricacies of Chrono24's fundraising journey and the investors backing this innovative platform.
What Is Chrono24?
Chrono24, headquartered in Karlsruhe, Baden-Wurttemberg, Germany, is a private company operating in the E-Commerce, Fashion, Jewelry, and Marketplace industries. The platform serves as an online marketplace connecting buyers and sellers of luxury watches.
Founded in 2003, Chrono24 has grown to employ between 251-500 people. The company has made strategic acquisitions, such as WatchChoice, to expand its market reach and solidify its presence in the luxury watch market.
How Much Funding Has Chrono24 Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: February 2010
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide initial capital for launching the platform.
- Series A
- Amount Raised: USD 37,000,000
- Date: July 2015
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development and expansion of the digital marketplace for luxury watches.
- Series B
- Amount Raised: USD 43,000,000
- Date: August 2019
- Lead Investors: Sprints
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion efforts.
- Series C
- Amount Raised: USD 118,000,000
- Date: August 2021
- Lead Investors: General Atlantic
- Valuation at Round: Over USD 1 billion
- Motivation Behind the Round: To accelerate growth, scale internationally, and enhance user experience.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: March 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand market reach.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: July 2023
- Lead Investors: Cristiano Ronaldo
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage celebrity endorsement for brand growth.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: April 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: July 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
- Undisclosed Round
- Amount Raised: Not publicly disclosed
- Date: June 2024
- Lead Investors: Charles Leclerc
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage celebrity endorsement for brand growth.
Total Amount Raised: USD 198,000,000
Current Valuation: Over USD 1 billion
Key Investors
- Charles Leclerc
- Details: Charles Leclerc is a professional racing driver from Monaco, currently competing in Formula One for Scuderia Ferrari. He has shown interest in investing in innovative companies, including Chrono24.
- Investment Focus Areas: Sports, technology, luxury goods
- Notable Investments: Chrono24
- General Atlantic
- Details: General Atlantic is a leading global growth equity firm established in 1980. The firm manages over $65 billion in assets and has more than 175 investment professionals worldwide.
- Investment Focus Areas: Technology, healthcare, financial services, consumer
- Notable Investments: Airbnb, Alibaba, Uber
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm. It focuses on high-growth technology and software companies.
- Investment Focus Areas: Software, internet, data services
- Notable Investments: Twitter, Shopify, Wix
- Aglaé Ventures
- Details: Aglaé Ventures is the technology investment arm of the Arnault family’s investment company, Agache. It is also the controlling shareholder of LVMH.
- Investment Focus Areas: Technology, luxury, retail
- Notable Investments: Automattic, BackMarket, Noom
- Sprints Capital
- Details: Sprints Capital is a growth equity firm that focuses on long-term investments in technology-driven companies. It has participated in multiple funding rounds for Chrono24.
- Investment Focus Areas: Technology, internet, e-commerce
- Notable Investments: Not publicly disclosed
What's Next for Chrono24?
Chrono24 stands at the cusp of significant growth opportunities. With a robust plan to accelerate its growth trajectory, the company aims to scale internationally and deepen its presence in existing markets. The luxury watch marketplace is thriving, and Chrono24 is well-positioned to capture the interest of a new generation of collectors, leveraging its digital platform to enhance user experience and attract top talent globally.
Future fundraising opportunities appear promising as Chrono24 continues to expand. The substantial Series C funding round indicates strong investor confidence, suggesting potential for additional rounds to support further expansion and technological advancements. However, the company must navigate challenges such as maintaining growth momentum, ensuring the authenticity of listed watches, and managing the complexities of international operations.
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