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Online Jewelry Retailer Raises $23M

The company has found a niche in self-purchasing millennial women.

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Direct-to-consumer jewelry brand Mejuri has closed on a $23 million funding round, TechCrunch reports.

The company will use the money to fund offline expansion and to enter new markets. It will also focus on branding and customer experience.

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Launched in 2015, the company has raised $29 million in all.

Venture capital firm New Enterprise Associates led the new round. Other investors included Felix Capital, BDC Capital, Incite Ventures and Dash Ventures.

Mejuri has found a niche in self-purchasing millennial women.

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“Mejuri’s mission really hits home for me,” TechCrunch quoted NEA partner Vanessa Larco saying.

“I noticed a shift in trends when none of my friends wanted to go to any of the traditional fine jewelry companies to purchase jewelry anymore, and I realized a lot of those big brands were in trouble.”

Read more at TechCrunch

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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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