Gemvara Announces $15 Million in Series C Funding

03/23/11
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Online retailer of customer-designed fine jewelry is re-defining the rules in e-commerce.

 

Hyper-Growth Continues for Online Jewelry Retailer

Lexington, MA -- March 23, 2011 -- Gemvara, Inc., the online retailer of customer-designed fine jewelry, today announces the closing of a $15 million round of Series C funding led by Balderton Capital, one of Europe’s largest venture capital firms, with participation from existing investors Highland Capital Partners and Canaan Partners. Balderton’s Mark Evans will join Gemvara’s Board of Directors. Gemvara plans to use the capital to further enhance its jewelry shopping experience, expand the breadth of merchandise featured on its platform and continue providing highly personalized customer service.

“We were inspired by Matt Lauzon’s far-reaching vision of future e-commerce, and his team’s deliberate execution to date,” said Mark Evans, Partner at Balderton Capital. “We believe that Gemvara can become the world’s first billion-dollar user-generated product company.”

“The Balderton team immediately recognized that we’ve only begun to scratch the surface of what our platform can do to fundamentally change the way products are bought and sold,” said Matt Lauzon, CEO and Founder of Gemvara. “We’re growing at a fast rate and building a team that is re-defining the rules in e-commerce. This additional capital will enable Gemvara to drive innovation that will bring the jewelry industry to the cutting edge of commerce and deliver a dramatically better experience for our customers.”

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