Chrono24 announced today that they have secured a $22.8 million series A investment from venture capital and private equity firm, Insight Venture Partners. This investment will be used to open new sales and service offices in the United States and Asia as well as to fund continuing developing of its online marketplace. The wristwatch technology space has been particularly active for investments of late. Govberg Jewelers has committed significant investment to build our Govberg OnTime App that allows watch enthusiasts to view news, manage their watch collection, shop online, and get a free quote to sell your watch. Also announced recently was the merger of Watchville and Hodinkee to expand watch news and technology. This merger was also combined with an investment from varied sources including noted watch enthusiast John Mayer. Leading watch brands have also ramped up their investment in smart watch technology to combat the launch of the Apple Watch. Smart Watch announcements have come from leading brands TAG Heuer, Montblanc, Frederique Constant, Alpina, Mondaine, Movado, and the IWC Connect.
Established in 2003, Chrono24 has quickly become a leader in the online luxury watch world, creating a unique global marketplace. Both professional dealers and private sellers contribute to nearly 200,000 watches available for purchase online. They bring together both seller and buyer in a trusted place, and we are proud to be one of the professional dealers found on their site. Since 2012, Govberg Jewlers has been one of their premium trusted sellers, reserved specifically for trusted sellers who frequently use Chrono24 services. The company recently introduced their Trusted Checkout, allowing buyers to purchase watches from select sellers directly through the marketplace, including the watches that Govberg has listed.
Insight Venture Partners
The venture capital and private equity firm invests in high-growth technology and software companies. Founded in 1995, they have raised over $10 billion and have invested in more than 200 companies world wide. Their interest in software and technology pairs perfectly with Chrono24 developing their global marketplace. We are excited to see what the partnership brings to their marketplace!