Sports card appraisal and marketplace company Collectors Holdings Inc. said it's raised $100 million in new financing.
The new funding, the company said, was "raised from existing investors [and] will be used to grow the business further and invest in new technology that further improves the experience for hobbyists."
The Santa Ana, California, company said it now has a valuation of $4.3 billion
The company added that it's also changing its name from Collectors Universe to Collectors.com and has placed all of its services, including authentication and grading services (PSA, PCGS, WATA), marketplace and auction platforms (Goldin, CollectorsCorner) and collectibles research tools (Card Ladder) on one internet site.
“Our vision has always been to reinvest via technology and capacity expansion into our brands and simplify the collecting experience through innovation," said CEO Nat Turner, in a statement. "As a long-time collector, I’m personally passionate about the industry and have been thrilled to be a part of its overall growth the last several years."
Collectors also said it's allowing its customers to have their trading cards authenticated, graded and stored at a new 11,000-square-foot Delaware facility beginning this summer.
The company, which began in 1986 as Professional Coin Grading Service, was purchased by Turner, D1 Capital Partners, Cohen Private Ventures and TCG Capital Management for an undisclosed price last year. It now has about 1,200 employees at offices in California, New Jersey, New York, Washington, Paris, Tokyo, Shanghai and Hong Kong, Collectors says on its website.
Collectors said the collectibles industry — which includes sports cards, trading card games like Pokémon, coins, autographed memorabilia and video games — is expected to be worth $522 billion globally 2028, up from $372 billion in 2020.
