Total amount raised
€180 Millions
Latest funding date
Location
Chrono24 has successfully raised significant funding through multiple rounds, attracting a diverse group of 15 investors, including notable names like Charles Leclerc and FJ Labs. The platform has been pivotal in reshaping the global watch market since its inception in 2003.
Keep reading to explore the intricacies of Chrono24's fundraising journey and the investors backing this innovative marketplace for luxury watches.
What Is Chrono24?
Chrono24, founded in 2003, is a prominent player in the luxury watch marketplace industry. Headquartered in Karlsruhe, Baden-Wurttemberg, Germany, the company was established by Dirk Schwartz, Michael Krkoska, and Tim Stracke.
With an employee count ranging between 251-500, Chrono24 has made a significant impact on the global watch market. The platform hosts over 500,000 watches from more than 3,000 professional dealers and 30,000 private sellers, attracting over 20 million watch enthusiasts monthly from more than 120 countries.
How Much Funding Has Chrono24 Raised?
- Funding Round: Seed Round
- Amount Raised: Not publicly disclosed
- Date: February 2010
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely to establish the company and develop the initial platform.
- Funding Round: Series A
- Amount Raised: €37M
- Date: July 2015
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market presence.
- Funding Round: Series B
- Amount Raised: €43M
- Date: August 2019
- Lead Investors: Sprints Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and expansion.
- Funding Round: Series C
- Amount Raised: €100M
- Date: August 2021
- Lead Investors: General Atlantic, Aglaé Ventures, Insight Partners, Sprints Capital
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To accelerate growth, scale internationally, and enhance user experience.
- Funding Round: Venture Round
- Amount Raised: Not publicly disclosed
- Date: March 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for platform enhancement and market expansion.
- Funding Round: Secondary Market
- Amount Raised: Not publicly disclosed
- Date: April 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely to provide liquidity to early investors.
- Funding Round: Secondary Market
- Amount Raised: Not publicly disclosed
- Date: July 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely to provide liquidity to early investors.
- Funding Round: Venture Round
- Amount Raised: Not publicly disclosed
- Date: July 2023
- Lead Investors: Cristiano Ronaldo
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for platform enhancement and market expansion.
- Funding Round: Funding Round
- Amount Raised: Not publicly disclosed
- Date: June 2024
- Lead Investors: Charles Leclerc
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for platform enhancement and market expansion.
Total Amount Raised: €180M+ Current Valuation: Over $1 billion
Key Investors
- Charles Leclerc
- Details: Charles Leclerc is a renowned Formula 1 driver from Monaco. He has recently ventured into investing, with Chrono24 being one of his notable investments.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Chrono24
- General Atlantic
- Details: General Atlantic is a leading global growth equity firm established in 1980. They manage over $65 billion in assets and focus on providing capital and strategic support to growth companies.
- Investment Focus Areas: Growth equity investments, technology, healthcare, financial services
- Notable Investments: Airbnb, Alibaba, Uber
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm. They specialize in investing in high-growth technology and software companies.
- Investment Focus Areas: Technology, software, internet businesses
- Notable Investments: Twitter, Shopify, Wix
- Sprints Capital
- Details: Sprints Capital is an investment firm that focuses on long-term investments in technology and internet companies. They have been involved in multiple funding rounds for Chrono24.
- Investment Focus Areas: Technology, digital marketplaces, internet companies
- Notable Investments: Not publicly disclosed
- Aglaé Ventures
- Details: Aglaé Ventures is the technology investment arm of the Arnault family’s investment company, Agache. They invest in fast-growing innovative companies at all stages of development.
- Investment Focus Areas: Technology, luxury, innovative companies
- Notable Investments: Automattic, BackMarket, Noom
What's Next for Chrono24?
Chrono24 stands at the cusp of significant growth opportunities. With a robust market presence in over 100 countries and a thriving pre-owned luxury watch market, the company is poised to scale internationally and deepen its presence in existing markets. Enhancing user experience and augmenting its global team with top talent are key strategies to capitalize on these opportunities.
Future fundraising rounds are likely as Chrono24 continues to attract growth-experienced partners and investors. Leveraging its unicorn status, the company can secure larger investments to further scale operations and enhance market presence. Strategic acquisitions may also be on the horizon to bolster technology and market reach.
However, challenges such as competition from other online luxury marketplaces, maintaining trust and transparency, and navigating regulatory differences across countries could pose hurdles. Adapting to changing consumer behaviors and ensuring the quality and authenticity of listed products will be crucial for sustained success.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Chrono24 and gather other critical business insights.
Sign up for free to start transforming your sales approach today.
