Cincinnati-based CompleteSet completed the Velocity Accelerator program last October and announced today that the company has closed $650,000 in seed round funding.
The funding was led by Doug Cobb, co-founder and Entrepreneur-In-Residence of Chrysalis Ventures. (Disclosure: Cobb is an investor in Insider Louisville.) Lexington’s Cherub Fund and other private investors also participated.
Starting this month, CompleteSet will be headquartered in downtown Cincinnati as the newest member of Cintrifuse.
IL profiled the company back in July, when CEO Gary Darna and CTO Jaime Rump had just started the Velocity program.
Darna described his company as “Kayak.com for collectibles.” It’s a web and mobile platform that lets collectors search across multiple e-commerce sites like Amazon and eBay and in the CompleteSet archives for pop culture collectibles they covet.
Let’s say you collect vintage Barbie stuff, and you really have your heart set on owning a 1979 Barbie Dreamhouse because that’s the one you had when you were a kid. You can go on CompleteSet, click on the Barbie category (the site looks a lot like Pinterest), find the Dreamhouse and search for where you can buy it (in this case, I found one on eBay for $120). If you can’t find it for sale, you can click on the “want it” button and let people — potential sellers — know that you need this toy.
“All collectors have this problem,” said Darna, “looking for things you want to own and missing out on the thing that you wanted because you didn’t know it was for sale.”
Members also can archive their collectibles and offer items for sale or trade. The company charges “finder’s fees” to sales between individuals on the site and earns affiliate fees from e-commerce sites. These fees increase the more business CompleteSet sends their way.
The website serves members from 34 countries who have catalogued more than 100,000 collectibles.
CompleteSet’s seed funding will be used for product development, marketing, and hiring. The company plans to grow to a team of 12 in 2015.