Commonwealth and Ascent Venture Partners Invest $13 Million In Artfact

Posted Dec 28, 2009

Live auction website Artfact.com has raised $13 million in funding from Commonwealth Capital Ventures and Ascent Venture Partners. Artfact has also recently merged with Auctionzip.com. Artfact will use the funding to expand product development and enhance marketing/sales.

?The investment by Commonwealth and Ascent marks an important milestone for Artfact, and punctuates an exciting first year of growth in Arfact Live and Invaluable Live, our live auctions marketplaces for estate auctioneers. We are eager to have the support of two distinguished partners as we look forward to the launch of Auctionzip Live, and the SaaS version of our RFC auction management software in 2010,? stated Artfact CEO and Chairman Adam Kirsch in a press release.