Investment to Accelerate Next Phase of Growth for Industry-Leading Hobby Collectibles Platform as it Expands into New Verticals
TCGplayer (the “Company”), the leading technology platform for the collectibles industry and operator of the largest online marketplace for trading card games, today announced that it has secured $35 million in strategic financing from Vista Credit Partners (“VCP”), a subsidiary of Vista Equity Partners focused on the enterprise software, data, and technology markets. The financing will be used to support the Company’s continued rapid growth and upcoming expansion into multiple new hobby collectible categories including sports cards and comic books.
“TCGplayer is a business at an inflection point. Having successfully capitalized on increased collector demand, the Company is now poised for rapid expansion as it continues to build a deep vertical connective tissue joining hobbyists, retailers and publishers,” said David Flannery, President of Vista Credit Partners. “We are pleased to support TCGplayer as it enters this next phase of accelerated growth and continues to revolutionize the $25 billion hobby and collectibles market with cutting-edge technology and innovative solutions.”
TCGplayer, an established leader in the hobby collectibles market, is experiencing over 100% growth in year-over-year sales with increasing profits. The Company authenticates more than 100,000 products each day and is expected to facilitate the trading of over 70 million products on its platform in 2021. This new funding will accelerate targeted investments in key strategic growth areas across product, technology and marketing to fortify and extend the Company’s leadership in current markets and to launch its platform into new product categories.
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“We have maintained triple digit growth for the last 12 months and have been fortunate to fuel all of our hiring needs through our own profitability,” said Chedy Hampson, founder and CEO of TCGplayer. “Now as hobbyists return to their local stores that double as community centers, we anticipate another tailwind from in-store tournaments and player and artist signings. This capital from Vista ensures TCGplayer will be ready with the tools, data and technology platform to support the entire hobby community.”
TCGplayer recently announced beta programs for novel in-store tools including an upgraded Kiosk and an inventory management plugin that works with the most popular Point of Sale systems. The Company also recently doubled its physical footprint in downtown Syracuse, New York and expanded its workforce to over 450 team members, making a number of key executive hires, including its first-ever Chief People Officer, Chief Marketing Officer and Chief Product Officer. With this funding, the Company will accelerate its entry into new verticals and develop innovative tools and services for local gaming and hobby stores.
Hampson continued, “We are delighted to have an unparalleled expertise in software, data and technology markets from Vista. I’m confident our partnership will help us advance our technology platform that powers connections between hobbyists, publishers, retailers and manufacturers at every point of their journey including discovery, engagement and commerce.”