Business is booming -- and the investors are noticing, too.

Goldin Auctions revealed Tuesday that it raised approximately $40 million in growth financing from The Chernin Group, an investment firm whose aim is "building and investing in leading, emerging consumer businesses in the media, commerce and technology industries."

According to the Runnemede, N.J., auction house's announcement, the funds will "help invest in technology, operations and audience development to further build upon the trust the company has established with buyers and sellers on its platform" as the auction industry has grown to more than $10 billion in annual transactions. The auction house was founded in 2012 and has grown quickly, grossing more than $100 million last year.

Founder Ken Goldin becomes executive chairman of the company while Ross Hoffman, who has held senior positions at Twitter, Google and Headspace, is the company's new CEO where he "will oversee the development of innovative new products and experiences that will redefine the collectibles industry and further cement the company’s reputation as the trusted leader in trading cards and memorabilia." Meanwhile, Goldin "will leverage his extensive knowledge, history and relationships in the collectibles industry to help lead the company’s continued growth."

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