James Allen Secures $25 Million From Israel Growth Partners

James Allen.com, generally considered the second-largest jewelry pure-play e-tailer, has secured $25 million in funding from Israel Growth Partners.

The investment gives the company, which generates about $80 million in revenue annually, a $100 million valuation, according to Israeli newspaper Haaretz.

(UPDATE: CEO Oded Edelman calls both those numbers incorrect.)

The money will be used to fund the aggressive growth strategy of parent company R2Net, which has acquired diamond imaging technology company Segoma and augmented reality company Brio Animation Studio. James Allen also recently launched a store-in-store joint venture with Sears.

R2Net also runs a B2B diamond sales platform that services Signet Jewelers and other companies.

 

JCK News Director