LONDON & BOSTON, October 14, 2021--(BUSINESS WIRE)--Artlogic, a leader in software solutions for art galleries, collectors, and artists, announced today that it has received a strategic investment from Cove Hill Partners, to support the company in its next phase of growth.
The investment from Cove Hill backs Artlogic in its strong growth trajectory and leadership in the art business software space. Cove Hill’s financial commitment will support innovation and product development, helping Artlogic build on its modern database, CRM, and website products to serve art businesses around the world.
Artlogic will also represent the first company in Cove Hill’s newly founded software holding company, Hive Global, a holding company created by Cove Hill to help scale, support, and invest in modern, market-leading software businesses.
"The Artlogic platform has become an indispensable part of how galleries, artists and collectors run their daily operations, bolstering marketing efforts and accelerating sales. We have been a driving force in ensuring the art world can thrive in an increasingly online-first world, delivering a diverse product suite that gives clients a competitive advantage," said Joe Elliott, Chief Commercial Officer and Tom Brickman, Chief Creative Officer. "We have enabled art businesses worldwide to bring everything together through our commitment to integration, allowing our clients to focus on what matters most – promoting and selling art."
"We are thrilled that in Cove Hill we have found an investment partner that is so aligned with our vision and supportive of our culture and values. Their capital, know-how and experience in scaling technology businesses will help us be much more ambitious and serve our growing client base in new and better ways," said Peter Chater and David Hooper, Founders of Artlogic.
"Cove Hill is excited to partner with the Artlogic management team for the next phase of growth. Artlogic’s cutting edge software provides all the core functionality that art galleries, collectors, and artists need to run their business in a single integrated, best-in-class solution. These capabilities increase efficiency, improve sales and marketing, and simplify database management," said David Jackson, Co-Founder and Managing Director at Cove Hill. "We believe our investment will allow Artlogic to deliver continued industry leading product innovation and service to its customer base while fueling significant future growth."
KPMG and Mishcon de Reya advised Artlogic. Choate, Hall & Stewart, Gowling WLG, and PricewaterhouseCoopers represented Cove Hill Partners and Hive Global.
Founded in 1999, Artlogic provides industry-leading business management software tools for art galleries, collectors, and artists in over 80 countries around the world. Its comprehensive cloud-based platform offers art professionals a 360-degree view of their businesses, allowing them to save time and focus on their work.
About Hive Global
Hive Global is a software holding company founded by Cove Hill Partners in 2021 to invest in market leading software companies globally.
About Cove Hill Partners
Cove Hill Partners is a long-term oriented investment firm focused on partnering with outstanding management teams to build market-leading technology and consumer companies. The firm manages long-duration funds with over $2.5 billion of commitments from its investors and founders. The firm was founded in 2017 by seasoned private equity investors to invest their personal capital alongside a small group of like-minded investors. Based in Boston, Cove Hill has an innovative structure that provides the flexibility to enable a patient, concentrated, and value-add approach in a small portfolio of long-term investments.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211014005680/en/