Sotheby’s and eBay shuttered their ill-fated online art auction venture in 2003, after losing well over $100m. Perhaps the companies were too early to the table.

Boston-based Artfact, an online auction company, has raised $13 million in funding from Commonwealth Capital Partners and Ascent Venture Partners. Artfact also announced a merger with Auctionzip, a directory of live auction listings.

Funds are slated to facilitate the merger, expand product development and marketing and sales. Artfact hosts live internet auctions for about 150 companies, according to the firm’s website, including Freeman’s, Swann and Skinner.

Categories include fine art, decorative arts, collectibles and general estate sales. Artfact introduced live online bidding in 2008.

Artfact also offers auction management software and a database of auction results.

Artfact broadens its reach with the Auctionzip merger. Auctionzip, founded in 2003, lists 160,000 estate auctions each year with an estimated $25 billion value, according to a press release.

Artfact was founded in 1989.