Sports trading card platform Arena Club, which headlined by Co-Founder and CEO, Brian Lee and Founding Partner, Derek Jeter, have officially announced that they have raised $10 million in a Series A funding round.
The funding round was led by investors M13, defy.vc, Lightspeed Ventures, Elysian Park Ventures, and BAM Ventures, and the funds will be used for operations and attaining talent, among other operational needs.
The company plans to add more functionality to optimize the trading process for collectors.
“Arena Club was built by a team of trading card enthusiasts who created the platform with the hobby community in mind,” said Brian Lee, Co-Founder and CEO of Arena Club in a press release from back in September. “From top to bottom, our team is honest, ethical and fair. Arena Club will transform the collectible world through transparency, authenticity and technology.”
“I am proud to be part of the team at Arena Club and to work closely with Brian to bring this innovative platform to life,” said Derek Jeter. “We recognize that there is a real need in the grading industry for clarity, speed and trust, and Brian has put together a team that is committed to providing that to the marketplace.”