Business Wire

Chrono24 Raises 100M € Series C Led by General Atlantic, With Participation From Aglaé Ventures

Share

Chrono24, a leading global digital marketplace for new and pre-owned luxury watches, announced today that it has secured more than 100M € ($118M+ USD) in Series C investment. The round was led by General Atlantic, a leading global growth equity firm, with participation from Aglaé Ventures, the technology arm of the Arnault family’s investment company. Existing investors Insight Partners and Sprints Capital also participated in the round. This newest minority growth funding brings Chrono24’s cumulative funds raised to over 200M € to date (approximately $236M USD).

Chrono24 plans to leverage the new investment to accelerate its growth trajectory, including continuing to scale internationally, deepening its presence in existing markets and augmenting its global team with additional top talent. Already a market leader in more than 100 countries, Chrono24 also plans to enhance its user experience to further capitalize on the thriving pre-owned luxury watch market and capture the potential to service a new generation of collectors.

Founded in 2003, Chrono24 pioneered and digitized the historically offline luxury watch industry and was one of the first companies of scale to connect watch dealers and collectors around the globe through its digital marketplace. The company now counts an average of 500,000 unique visitors per day. With more than 3,000 retail dealers and 30,000 private sellers across more than 100 countries worldwide, Chrono24 lists approximately half a million luxury watches for sale at any given time.

Jörn Nikolay, Managing Director with responsibility for General Atlantic’s operations in Germany, said: “Since its establishment in 2003, Karlsruhe-based Chrono24 has become a global pioneer in the creation of a cross-border online marketplace for luxury watches, with an innovative model underpinned by transparency and sustainability. We are pleased to support Chrono24 with our capital and expertise in its ongoing global expansion.”

“Once again, Chrono24 has been able to win premier growth-experienced partners like General Atlantic and Aglaé Ventures. As originators of the digital marketplace concept within the luxury watch world, we’ve built a platform that not only supports and encourages evolving consumer behavior, but also provides invaluable proof of concept to an industry that has traditionally shied away from disruption,” commented Chrono24 Co-CEO, Tim Stracke. “We are very pleased that General Atlantic and Aglaé Ventures recognize the vast market potential lying in the digital evolution of luxury retail and our company’s role in this industry.”

Chrono24 continues to be led by its founder and Co-CEO Tim Stracke; Co-CEO (and former TeamViewer CEO) Holger Felgner; and CFO Stephan Kniewasser. A majority of existing shareholders, including Felgner and Kniewasser, co-invested alongside the new group of investors. This latest fundraise follows Chrono24’s 2019 Series B financing of 43M € from Sprints Capital, former Richemont director Gianni Serazzi, and YOOX-NET-A-PORTER founder Alberto Grignolo, among others, as well as the company’s 37M € Series A from Insight Partners in 2015.

About Chrono24 GmbH

“Chrono24 – The World's Watch Market” is a leading global online marketplace for luxury watches since 2003. With approximately 500,000 watches from more than 3,000 retailers from over 100 countries and more than 30,000 private sellers, the portal reaches over 9 million unique visitors per month. In 2020 Chrono24 generated a transaction volume growth of +30%, with monthly purchase requests falling in the six-digit range. With a large global offering of new, used and vintage watches combined, Chrono24 offers an extensive service portfolio, allowing buyers and sellers to complete their transactions in a trusted environment. The worldwide support team provides assistance by mail or telephone in 15 different languages. Chrono24 was founded in 2003 and employs almost 400 people in offices in Karlsruhe, Berlin, New York and Hong Kong. www.chrono24.com

About General Atlantic

General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 400 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $65 billion in assets under management as of March 31, 2021 and more than 175 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore and Stamford. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

About Aglaé Ventures

Aglaé Ventures is a global investment firm based in Paris, New York and Los Angeles backed by Agache, the holding company of the Arnault family and the controlling shareholder of LVMH, the world leader in luxury. For nearly 30 years, Agache has backed fast-growing innovative companies at all stages of their development including in the past months Automattic, BackMarket, Mano Mano and Noom. https://aglaeventures.com/

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Media

Chrono24
Tanja Mayer
tanja@chrono24.com

Chrono24 U.S. Inquiries
Caitlin Shockley, The Creative
caitlin@thecreativenyc.com or +1 (646) 584-2707

General Atlantic
Mary Armstrong & Emily Japlon
media@generalatlantic.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Leaders in Cloud Adoption Approach Cloud Differently and Achieve 10x Greater ROI, Says Research by Wipro FullStride Cloud Services22.9.2021 18:24:00 CEST | Press release

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today released a report indicating that leaders in cloud adoption approach their cloud journey differently than beginners, enabling them to achieve a 10x greater annualized return on investment. Wipro’s report, “Making Business Thrive: A Cloud Leader Roadmap for Achieving 10x ROI,” outlines these best practices for enterprises beginning their cloud journey or seeking to accelerate their results. The report also identifies dozens of key cloud-adoption metrics for multiple industries and countries. Wipro FullStride Cloud Services developed the report based on a survey of 1,300 global C-level executives and key decision-makers from 11 industries and six countries (see “Methodology” below). Wipro considered leaders to be the top 19% of respondents based on cloud maturity, while beginners represented the lowest 32%; this was not based on revenue. Thi

Nathan's Famous Continues International Expansion with European Push to Offer Hot Dogs in France22.9.2021 17:57:00 CEST | Press release

Nathan's Famous, Inc., the American tradition serving New York favorites for more than 100 years, announces a new collaboration with Tommy's Diner, a 50's throwback American diner based in France, to offer its hot dogs in all locations across the country, making it the first time Nathan's Famous is served in France. This relationship continues Nathan's Famous growth in Europe and beyond. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210922005823/en/ Nathan's Famous Menu. (Photo: Business Wire) "Nathan's Famous is known the world over, which is why we've had such great success in recent years growing in the Middle East, Asia, and Great Britain," states James Walker, Senior Vice President, Restaurants. "This new relationship with Tommy's is a big step for us as we look to see that growth spread throughout Europe, and we're excited that they are our first French outpost and will be one of the first internationally to have our

IHMA Opens Microbiology Reference Laboratory in Shanghai, China to Further Support Global Anti-Infective Product Discovery and Development22.9.2021 16:30:00 CEST | Press release

IHMA has opened a microbiology reference laboratory in Shanghai, China in February of 2021. This facility will join IHMA locations in the USA, Switzerland and India to allow the company to provide more robust global support for anti-infective product discovery and development. The China facility will provide microbiology testing to support profiling of new antimicrobial products, antimicrobial resistance surveillance, molecular characterization of resistant organisms, and serve as a central laboratory for clinical trials conducted in China. “We have been working for almost 30 years to maximize our in vitro support for clients who are developing anti-infective products globally. Our facility in China will greatly enhance that effort and support clients wishing to conduct studies in this important market,” said Jack L. Johnson, President/CEO of IHMA. About IHMA: As the leading global microbiology service provider to the biopharmaceutical industry, IHMA utilizes its extensive laboratory a

Workiva Named a Leader Among Governance, Risk, and Compliance Platforms by Independent Research Firm22.9.2021 16:24:00 CEST | Press release

Workiva Inc. (NYSE:WK), today announced that it was classified as a Leader in The Forrester Wave™: Governance, Risk, and Compliance (GRC) Platforms Q3 2021 report. The company’s connected cloud platform enables collaboration and deep integration into existing systems and workstreams to simplify audit, risk and compliance, operational, financial, and non-financial reporting for companies across the globe. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210922005704/en/ Workiva Named a Leader Among Governance, Risk, and Compliance Platforms by Independent Research Firm (Graphic: Business Wire) Evaluating GRC solutions against 25 criteria, Forrester identified 15 vendors available today, and proceeded to research, analyze, and score them. The report summarizes how each provider measures up, and ranks their solutions based on how well they satisfy the current and future needs of audit, risk, and compliance professionals. Workiva

The Scottish National Blood Transfusion Service (SNBTS) to Deploy Biolog-id Smart Storage RFID Kits Nationwide22.9.2021 15:50:00 CEST | Press release

The Scottish National Blood Transfusion Service (SNBTS) – the specialist provider of transfusion medicine in Scotland – will implement the biolog-id blood inventory devices to optimize the management of its blood products across the country. Through this deployment, biolog-id’s cutting-edge technology will streamline the complex inventory and distribution processes of the red blood cells to distant sites, enhancing the visibility and management of those lifesaving products between the Scottish blood centre and each remote blood bank. Designed for healthcare professionals specialized in the transfusion field, the Biolog Transfusion Solution combines RFID enabled devices powered by a proprietary IT engine and electronic labels. Biolog-id’s contactless devices are integrated into SNBTS’ IT transfusion management solution (MAK-SYSTEM – e-TRACELINE), offering real-time visibility of each component at each step of the supply chain. The corner-stone devices of this solution are the RFID Smart

Let’s Build a Digital Future Together: Join us at Dahua Partner Day 2021!22.9.2021 15:45:00 CEST | Press release

Dahua Technology, a world-leading video-centric smart IoT solution and service provider, will hold its 2nd online Dahua Technology Partner Day on October 13th - 14th with the theme “Building a digital future”. Adhering to its strategy of open cooperation, Dahua Technology is committed to creating a win-win ecosystem with leading technology partners around the world. This year, Dahua Technology will join hands with its 22 global partners to discuss interoperability, share industry trends, and explore the future of digitalization and intelligence together. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210922005395/en/ (Photo: Business Wire) “We are excited to host our second virtual technology partner day. Technologies have evolved fast in the past year, and the needs of digitization and diversified challenges facing different industries today are driving the integration of security companies,” says Mr. Jiaqi Gao, Overseas Ma

Takeda Selects Four New Partners for Annual Global Corporate Social Responsibility (CSR) Program to Help Strengthen Health Systems in Low- and Middle-Income Countries22.9.2021 15:30:00 CEST | Press release

Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (“Takeda”) today announced the addition of four partnerships to its Global Corporate Social Responsibility (CSR) Program, which makes long-term commitments to strengthen health systems and improve access to healthcare for all in developing and emerging countries. As part of an annual decision-making process, Takeda employees worldwide voted to add IntraHealth International, Jhpiego, Pathfinder International and the World Food Programme(WFP) as new partners for the Global CSR Program, which now supports 20 programs in 72 countries. Takeda’s commitments to these new partners in FY2021 include: JPY 953 million to IntraHealth International to work with 12 private schools in Mali, Senegal and Niger to increase the number of qualified, trained nurses who can serve rural communities facing a critical shortage of health workers in these countries. Over the next five years, the project will help private schools partner with the public se

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom