Paddle 8 Nabs $4 M. in Funding

Online art site Paddle 8 has secured $4 million in funding in a round led by Founder Collective’s David Frankel,

Founders Alexander Gilkes (L) and Aditya Julka (R) with Marina Abramovic (M) (Photo courtesy of W Magazine)

Online art site Paddle 8 has secured $4 million in funding in a round led by Founder Collective’s David Frankel, who will join the company’s board.

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From the press release:

“Joining Paddle8’s financing round is Mousse Partners, the private investment firm affiliated with a leading luxury goods company. The firm’s U.S. venture efforts are led by Ed Zysik with recent investments represented by Paperless Post and Warby Parker. This combination of technology and luxury prowess gives Paddle8 the opportunity to further enhance its position as the leading destination for both new and seasoned collectors to access fine art works via a curated selection, insider opinions and a patented transaction platform that allows collectors and galleries to ship, insure and install works effortlessly.”

The news comes amidst other announcements of online art endeavors, albeit ones providing diverse services. Artspace recently announced a $2.5 million investment and the VIP online art fair said it had raised $1 million, just before the launch of its second iteration last week.

Paddle 8 Nabs $4 M. in Funding