Rally, a US-based platform for owners to list collectible objects, such as cars, has raised $17m from a consortium including car maker Porsche’s corporate venturing unit.
Alongside Porsche Ventures in the round were sports team owner Raptor Group, venture capital firm Global Brain and angel investor Alexis Ohanian. Global Brain invested in Rally through its GB-VII Growth Fund and strategic mandate with Japan-based phone operator KDDI in the KDDI Open Innovation Fund III.
Stephan Baral, head of Porsche Ventures US, said: “We want to have a front-row seat in the alternative investment space, and Rally is the perfect partner, as the average investor on Rally is just 27 years old, we will be able to increase our engagement with younger target groups.”
Rally had previously raised $10m, according to news provider TechCrunch.
Along with the investment, Rally has hired George Leimer, who previously worked at Disney/ESPN, Apple and eBay, as CEO. Christopher Bruno, founding CEO, will become president.
Editor note: updated to include Global Brain’s investment funds’ details.
