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Jewelry Brand Gets $13M Investment

It plans to expand its online and offline operations.

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NEW YORK — AUrate, a New York based direct-to-consumer fine jewelry brand, announced that it has completed a $13 million investment round.

With the Series A funding, led by Michael Platt of BlueCrest Capital, the company plans to expand its online and offline operations and direct investment in technology.

The round is “the largest in the fine jewelry category to date and one of the largest done in the consumer space,” according to a press release from the company. Additional participants include Point King Capital, Arab Angel Fund and Drake Management.

AUrate soft-launched in 2015, when co-founders Bouchra Ezzahraoui and Sophie Kahn held full-time jobs at Goldman Sachs & Marc Jacobs, respectively.

The brand was officially launched in 2017, with both online and offline stores. The co-founders went on to raise $2.6M in a seed round.

“I am committed to investing in founders who are strong operators and in companies that are category disruptors,” said Michael Platt, hedge fund manager, co-founder and CEO of BlueCrest Capital Management. “By putting the customer at the core of their strategy, Bouchra and Sophie have taken the D2C fine jewelry market by storm and, since 2017, have created a brand that has been able to brilliantly lead the charge in the category.

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“Aurate’s robust revenue growth, retention and loyalty are unparalleled, and I truly see the company as (re)defining the jewelry luxury 2.0 space for the next generation of women.”

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Alex and Gladys Rysman are the third generation to run Romm Jewelers in Brockton, Mass. And after many decades of service to the industry and their community, it was time to close the store and take advantage of some downtime. With three grown children who each had their own careers outside of the industry, they decided to call Wilkerson. Then, the Rysmans did what every jeweler should do: They called other retailers and asked about their own Wilkerson experience. “They all told us what a great experience it was and that’s what made us go with Wilkerson.” says Gladys Rysman. The results? Alex Rysman says he was impressed. “We exceeded whatever I expected to do by a large margin.”

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