The financing round will allow the company to expand membership and services
Eleven James, the private membership club that lets members borrow and buy luxury watches, has completed its Series A, or first, round of venture capital financing.
“This financing provides us with the necessary resources to meet the robust demand for memberships and our unrivaled collection of luxury timepieces, as well as enables us to continually scale our member services and experiences,” said founder and CEO Randy Brandoff.
It was also announced that Olivier Reza will join its board of directors.
Reza is the son of Alexandre Reza, founder of the Parisian luxury jeweler of the same name and a celebrated stone collector. Olivier Reza took over the brand in 2008 after his father’s retirement. He is also the founder and managing partner of Myro Capital and sits on the board of directors at Sotheby’s.
“Eleven James represents both a category pioneer and disruptive business model,” said Reza. “It is not merely a membership-based program that provides access to an expansive collection of luxury timepieces but also a luxury experience platform like no other. This financing will empower Eleven James to take advantage of its enormous potential.”