Index Ventures backs ArtBinder

ArtBinder has raised $3.17 million in Series A funding. Index Ventures led the round. The firm’s additional backers include Leon Black, CEO and founder of Apollo Global Management. Based in New York, ArtBinder is an app that enables galleries to present artworks remotely.

PRESS RELEASE

NEW YORK – ArtBinder, the pioneering app which enables galleries to present artworks remotely using simple, intuitive tools, today announces that it has raised a total of $3.17 million in a Series A round led by Index Ventures.

The investment will be used to expand the company’s latest product, ArtBinder Viewer, a free iPad app for browsing artists and galleries around the world, and also to further enhance ArtBinder’s technology and infrastructure to support its rapidly growing roster of international clients, said founder and CEO Alexandra Chemla.

“Alexandra and her team have quickly established ArtBinder as the platform of choice for a growing number of prestigious galleries, because it allows them to leverage the power of tablets and the cloud to show art to their clients in a very compelling and seamless way,” said Neil Rimer, partner at Index Ventures. “We are very excited to be supporting Artbinder and its mission.”

Since launching in September 2011, ArtBinder has attracted an ever-expanding client list, including over 300 of the most influential international galleries and dealers – among them David Zwirner, Gavin Brown’s Enterprise, Hauser & Wirth, Gladstone Gallery, Lisson Gallery, and Pace – who use the product to streamline the sales, presentation and distribution experiences both within and beyond their gallery walls.

The app has naturally evolved to suit the demands of a growing number of collectors, artists and art institutions that use the technology to organize and manage their inventories. “I started ArtBinder while working as a gallery assistant in order to solve a rudimentary problem that existed within the industry,” said Chemla. “This new infusion of both capital and investors’ insight allows us to accelerate our technology, and to introduce product innovations that will increase efficiency for our clients in all aspects of their businesses.”

With the $3.17 million raised, Chemla plans to expand ArtBinder Viewer, which launches in summer 2014, making it an essential tool for galleries with which to promote their programming and interface with consumers.

Bruce Gibney, an early investor in PayPal said, “ArtBinder has provided a beautiful, efficient platform that allows galleries, artists, and collectors to discover and interact with each other – one that respects the needs and interests of all participants in the market. I look forward to continuing to work with Alexandra Chemla, one of the most driven founders I’ve met, to bring the Viewer and other new products to market in service of that goal.”

Additional investors include: Leon Black, CEO and Founder Apollo Global Management; Matt Cohler former VP of Product at Facebook; Adam Freed, former COO of Etsy; Bruce Gibney, former partner at Founders Fund; Ben Sontheimer, CEO of Vault Partners; Collector and philanthropist Maria Baibakova; HRH Alia Al-Senussi; Julio Pekarovic, CFO at Quantcast; Abdullah Al-Turki; and David Rosenblatt, CEO of 1stdibs.com.

About ArtBinder
ArtBinder is the leading application for galleries that allows users to present artworks remotely with simple, intuitive tools to streamline the sales and presentation experience. Alexandra Chemla, Founder & CEO of the innovative art world app, ArtBinder, conceived of the product when working for New York Gallery, Gavin Brown’s Enterprise in 2010. Identifying a major technological void in the art industry, Chemla spent the next three years developing what is now the leading application and business tool used by blue-chip galleries and a variety of art world professionals. ArtBinder’s team is comprised of both seasoned and tech-savvy professionals who collectively provide extensive experience in the field of art sales and archiving.

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