GV led a $14m series A round for Twyla, which has just come out of stealth, and which previously raised $5m in a Redpoint Ventures and IVP-backed seed round.
Twyla, the US-based developer of an online art-buying platform, emerged from stealth today with $19m of funding from backers including GV, the corporate venturing unit formerly known as Google Ventures.
GV led a recent $14m series A round for Twyla which included seed investors IVP and Redpoint Ventures, according to TechCrunch. David Krane, GV’s chief executive, is a board member of the company.
Twyla has built a platform it claims provides consumers with a seamless art buying experience, giving them access to exclusive curated works by contemporary artists priced between $1,000 and 5,000. It also showcases the art in showrooms at hotels and other venues.
Matt Randall, co-founder and CEO of Twyla, told TechCrunch: “We are spending the capital on everything from licensing to manufacturing and distribution to curation.
“Twyla is quite a complex operation…we will be doing some marketing, but we want to deliver such a great product and experience that we primarily grow through word of mouth.”
David Krane added in a statement: “There is a huge gap in the art buying market between posters and Picassos.
“Twyla fills that void, finally speaking to a new generation of buyers who want to invest in art they love at a price they can afford.”
