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Press Release: R2Net - JamesAllen.com, one of the two largest diamond and bridal jewelry ecommerce platforms in the U.S., announced today that is has secured $25 million in growth funding from Israel Growth Partners (IGP). The money raised will be used to fund R2Net’s aggressive growth strategy. As part of this strategy, the company recently acquired and consolidated the operations of Segoma Inc. -- an innovative provider of advanced diamond imaging technology -- and Brio Animation Studio Ltd. -- a groundbreaking visualization and augmented reality studio. In addition, R2Net’s ecommerce brand -- JamesAllen.com -- has recently launched a store-in-store joint venture with Sears, one of the largest brick and mortar retailers in the U.S. JamesAllen.com seamlessly integrates smart phones, tablets and PCs, as well as virtual kiosks, which enables the digital generation to easily shop for diamond jewelry in an interactive, personalized and familiar environment. In addition to its direct-to-consumer business, R2Net operates a business-to-business (B2B) platform that serves the online diamond sales of giants such as Signet Jewelers, the largest jewelry retailer in the world with 3,500 retail stores worldwide. R2Net has built a sophisticated ecommerce and supply chain platform, which ties the entire span of the diamond industry’s ecosystem, including diamond and jewelry manufacturers, retailers and consumers. R2Net’s B2B platform utilizes advanced imaging and visualization technologies to capture and display diamonds and jewelry at a quality that surpasses a jeweler’s loupe, thus enabling manufacturers to dramatically cut the lead times and costs of global diamond trade. R2Net’s innovative ecommerce, imaging, visualization and supply chain management platforms are revolutionizing the $70 billion global diamond industry during times of great change in consumer and supplier dynamics and behaviors. “I’m excited to have IGP, one of Israel’s premier private equity funds, share and invest in realizing our vision and would like to welcome Moshe Lichtman and Haim Shani to our board. I look forward to benefiting from IGP’s partners’ operational experience in scaling up global technology companies,” said Oded Edelman, R2Net’s founder and CEO. “R2Net is a great example of the type of technology companies that IGP is focused on. Its ground-breaking technology, its strong momentum in the marketplace and Oded’s vision and unique skills make R2Net a prime candidate for global category leadership in a huge market that’s ripe for disruption,” said Moshe Lichtman, the general partner at IGP. “IGP believes that there is a unique strategic opportunity to better serve the entire diamond industry’s ecosystem and to deliver significant value across the board with R2Net’s technology platforms and capabilities.” About R2Net – JamesAllen.com
JamesAllen.com is a leading online retailer of diamonds and engagement rings. The idea behind JamesAllen.com is simple: Offer beautiful engagement settings coupled with high-quality laboratory graded diamonds, all at an extraordinary value. Each diamond and ring on JamesAllen.com is displayed using proprietary 360-degree Display Technology that allows customers to see and interact with diamonds and rings from the comfort of their home. To learn more about James Allen visit www.jamesallen.com About Israel Growth Partners
Founded in 2014, Israel Growth Partners (IGP) is a private equity investment firm founded by Moshe Lichtman and Haim Shani and backed by leading financial institutions including banks, insurance companies and pension funds. IGP’s mission is to provide growth capital, strategic guidance and active involvement in Israeli-related technology companies benefiting from its founders’ vast operational experience. Rapaport News is not responsible for, and does not endorse, the content of any third-party press release. This is not a Rapaport Press Release. It has been provided as additional information for our clients.
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