Chrono24 Raises $118 Million Led by General Atlantic
Chrono24, the world’s largest online luxury watch marketplace, has raised $118 million in a Series C funding round led by General Atlantic [1]. The investment marks General Atlantic’s continued commitment to supporting innovative companies that are driving growth and transforming industries [4]. Aglae Ventures and Insight Partners also participated in the funding round [3]. Chrono24 plans to use the funds to expand its global reach, enhance its platform, and invest in marketing and customer acquisition [1].
The Growth of Chrono24
Chrono24 was founded in 2003 and has since grown to become the leading global digital marketplace for new and pre-owned luxury watches [1]. The platform connects buyers and sellers from around the world, offering a wide selection of luxury watches from over 30,000 dealers and private sellers [1]. Chrono24 has over 10 million monthly visitors and has facilitated over $2 billion in transactions since its inception [1].
The Role of General Atlantic
General Atlantic is a leading global growth equity firm that invests in high-growth companies across a range of sectors, including technology, healthcare, and financial services [4]. The firm has a long history of partnering with innovative companies to help them achieve their full potential [4]. General Atlantic’s investment in Chrono24 reflects its confidence in the company’s ability to continue disrupting the luxury watch market and driving growth [4].
The Future of Chrono24
With the new funding, Chrono24 plans to expand its global reach and invest in marketing and customer acquisition [1]. The company also plans to enhance its platform by adding new features and improving user experience [1]. Chrono24’s CEO, Tim Stracke, stated that the company aims to “build the most trusted and comprehensive platform for luxury watches globally” [1]. With the support of General Atlantic and other investors, Chrono24 is well-positioned to achieve its goals and continue its growth trajectory.
Conclusion
Chrono24’s $118 million Series C funding round led by General Atlantic is a testament to the company’s success and potential for future growth. With over 10 million monthly visitors and $2 billion in transactions facilitated, Chrono24 is the leading global digital marketplace for luxury watches. The new funding will allow Chrono24 to expand its global reach, enhance its platform, and invest in marketing and customer acquisition. With the support of General Atlantic and other investors, Chrono24 is poised to continue disrupting the luxury watch market and driving growth.
