History


History

  • AuctionTech was founded by leading members of the former product & technology team of Auctionata, which was the world’s largest online auction house for art & luxury and leader in video livestream auctions. Auctionata had developed a proprietary, end-to-end auction software system that enabled broadcasting live auctions in real-time from anywhere in the world to any device worldwide. Based on its unrivalled video auction technology, the company achieved numerous world records for online prices – the latest being a Chinese clock selling for € 3.4 million – 100% online via smartphone. Following a failed merger with a main US competitor, the company went into administration in 2017. Supported by German Startups Group, the AuctionTech team bought out the entire technology IP from Auctionata.
  • AuctionTech is a pure software company that provides a broad range of flexible and customized auction solutions to a wide spectrum of industries – from traditional auction houses to other markets, such as cars and real estate.
  • We believe that online auctions are a very transparent and efficient way of selling, which has not been leveraged enough outside the traditional auction markets. Based on our proprietary true live auction technology and unique customer experience, we pave the way for video auctions becoming a mainstream online sales & retail format for high-value items.
  • Our focus is on building on our legacy of pioneering work and continue developing state-of-art online auction solutions for our partners with a unique and exciting customer experience, underpinned by value-added tools and services to drive productivity and efficiency

AuctionTech is supported by several venture capital, strategic business and growth investors

  • German Startups Group [insert logo]:

German Startups Group is a listed venture capital fund based in Berlin that focuses on young, fast-growing companies within the German speaking region. Since its start in 2012, German Startups Group has become one of the most active private venture capital investors in Germany (CB Insights 2015, PitchBook 2016) and built a diversified portfolio consisting of some of the most successful and best known German start-ups. The company acquires majority and minority shareholdings and supports its portfolio firms through its broad network and experience – ranging from strategy development, financing rounds, restructuring necessities, to M&A transactions and exit strategies.

 

  • Mercurius Private Equity [insert logo]:

As an active investment company, Mercurius Private Equity GmbH promotes promising business ideas and supports them in the long-term and in partnership. Mercurius is an active sparring partner, providing capital and strategic know-how. Together with the founders, Mercurius wants to use innovative ideas to create services and products that make a difference. The investment focus lies in the seed and initial growth phase of start-up companies where Mercurius can add substantial value through their extensive cross-industry experience and international network.

Nach dem Ende von Auctionata kauft die German Startups Group das technische Herzstück des Auktionshauses für wenig Geld. Der Plan: ein eigener Versteigerungsservice.

Michel Penke

Gründerszene, Auctionata: German Startups Group kauft Bieter-Software - June 6th, 2017


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Number of auctioned items

Number of auctioned items

Number of auctioned items