Investment to Accelerate Next Phase of Growth for Industry-Leading Hobby Collectibles Platform as it Expands into New Verticals
SYRACUSE, N.Y., June 29, 2021 /PRNewswire/ -- 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.
"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."
TCGplayer is the leading technology platform for the collectibles industry. Founded as a digital media platform within the collectible hobby space, the Company has grown from its initial roots working inside Syracuse-based hobby stores selling comic books, sports cards, CDs, collectible cards, action figures, and tabletop games into an expansive eCommerce marketplace. TCGplayer develops applications and technologies that are revolutionizing the collectibles marketplace by connecting thousands of hobby and collectibles businesses with customers around the globe. The Company's ecommerce and data management tools power sales through physical stores, websites, mobile apps and the TCGplayer Marketplace. TCGplayer prides itself on creating a culture that fosters camaraderie, embraces diversity, and exudes passion and provides stock options to all of its employees. The Company has been ranked amongst New York State's 50 best employers and Fortune.com's top 100 companies for women in the U.S and certified a Great Place to Work by our employees five years in a row.
About Vista Credit Partners
Vista Credit Partners (VCP) is the credit-investing arm of Vista Equity Partners and is a strategic investor and financing partner focused on the growing enterprise software, data, and technology market. VCP employs a highly disciplined approach to credit investing while maintaining flexibility to pursue investments offering the best relative value, sourcing opportunities in both the middle market and broadly syndicated market and investing across the capital structure. The VCP senior leadership and investment teams consist of experienced credit professionals who have spent their careers sourcing, underwriting, executing, and managing credit portfolios for market-leading institutions. Since formation in 2013 and as of December 31, 2020, VCP has deployed over $6 billion and grown to over $4.5 billion of assets under management. For more information, please visit www.vistacreditpartners.com.
Vista Equity Partners