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Artspace Raises $2.5 Million In Funding

Sites include . Published on February 16th, 2012. Written by Anthony West.

Another offline model has met the world of online commerce and this time it’s Artspace, an ecommerce website designed to match contemporary artists with galleries and potential customers—a virtual showroom if you will. The company recently raised $2.5 million in funding from various VCs including, Felicis Ventures, Accelerator Ventures, Blue Equity LLC, and Metamorphic Ventures. The round adds to the $1.2 milllion that Artspace raised last spring and is expected to boost exposure for the growing platform.

The one good thing about Artspace and its prospects for taking off is the fact that both its cofounders are no strangers to start-ups and running tech companies. Catherine Levene was a former COO of DailyCandy, and Christopher Vroom founded Artadia. Together the two are hoping to bring contemporary art to the forefront of ecommerce.

Interested art lovers can grab works for as low as $100, and they are currently showcasing pieces up to the $6,500 price range. I suppose for $100 I’d have a punt at a piece of art I could boast about to guests when they come over. I am just not sure if this is the accessibility that Artspace is trying to establish. I suppose time will determine how many people outside of the traditional art-appreciating circle will gravitate towards Artspace.

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